Direct expenses should be attributed to the relevant segment, while common expenses may be allocated by segment revenue; segmental results require examination before rejection. For the software development and ITeS segments, a Rs. 200 crore upper turnover filter reflects differences in functions, assets and risks; knowledge-intensive services are not comparable to routine ITeS. Foreign-currency receivables were benchmarked at LIBOR plus 200 basis points, with a 30-day credit period. No section 14A disallowance arose without exempt income for the relevant year; the Finance Act 2022 amendment operates prospectively from assessment year 2022-23. Consultancy fees for integrating related companies' operations were not accepted as business expend.....

Market value for the section 80-IA deduction on captive power transfers is the State Electricity Board's tariff for industrial consumers, not the rate paid to generating units. For capital-intensive power units, head-office common expenses are appropriately allocated by fixed assets rather than profitability. An appellate authority may consider an additional claim even without a revised return. Merchandise Exports from India Scheme incentives are taxable revenue receipts and assistance included in income under section 2(24)(xviii): they offset infrastructure inefficiencies and export costs without requiring capital investment, expansion or a new unit.

Jewellery previously disclosed under the Voluntary Disclosure of Income Scheme and reflected in earlier income-tax returns and balance sheets was not treated as unexplained where the Revenue did not dispute the disclosure, despite the absence of a scheme certificate. Marriage photographs showing jewellery being worn did not establish the source of its purchase. Jewellery beyond the allowance already granted under CBDT Instruction No. 1916 remained unexplained because no evidence substantiated the source of the remaining jewellery.

Unrebutted admissions and bank records linking cash deposits in intermediary companies to same-day transfers can establish benami accommodation entries. Banking-channel receipts and commercial records do not establish genuine sales where material invoice particulars and independent proof of delivery are absent. Natural justice requires a fair opportunity to know, answer and rebut adverse material, but does not confer an automatic right to cross-examine every witness. Income-tax assessment and benami proceedings serve different purposes. The benami enactment overrides the Income-tax Act, and deletion of an income-tax addition does not negate the benami character of a receipt.

Statutory interest is payable on a delayed countervailing duty refund where the finding of unjust enrichment has been reversed and entitlement to the refund has been judicially affirmed. An objection to interest based on denial of the principal refund and the direction to credit it to the Consumer Welfare Fund does not survive once the refund entitlement is affirmed.

Natural justice in proceedings to redetermine the value of imported second-hand knitting machines requires proper reasons for rejecting a request to cross-examine departmental witnesses. Requests for the original import file and cross-examination of the department's chartered engineer are material to procedural fairness. The importer's submissions and applicable CBIC circulars are relevant when the valuation is reconsidered. Resolving the procedural question does not itself determine the merits of the valuation dispute.

Production of a subsequent board resolution acknowledging authorisation and ratifying a company representative's acts may be permitted after cross-examination, despite a challenge to the original authority to institute the suit. Procedural rules should advance justice without allowing curable irregularities to defeat substantive rights. Authority to institute a corporate suit is distinct from authority to sign and verify pleadings, but that distinction does not itself justify refusing production. The resolution's validity and legal effect should not be prejudged at the production stage; its admissibility and effect on the suit's maintainability remain for determination on the merits.

Separate corporate personality prevents a subsidiary's operational debt from being attributed to its holding company solely because of their relationship, unless the subsidiary acts as the parent's agent. Where business transfer terms exclude pre-closing liabilities and retain liabilities under unnovated contracts with the transferor, a unilateral letter referring to the transferor's outstanding dues cannot itself novate the agreement or establish the transferee's liability. Section 9 of the Insolvency and Bankruptcy Code cannot substitute for recovery or adjudication of a disputed commercial claim.

A complainant's entitlement to appeal as a person aggrieved does not make joinder mandatory in an insolvency professional's appeal against a disciplinary order. Once the complaint is acted upon, the complainant need not participate unless required for just disposal or seeking impleadment. A successor authorised representative is neither a necessary nor a proper party where the appeal concerns the order's legality and propriety. Replacement of an authorised representative operates prospectively and does not invalidate acts previously performed. After a complaint has been accepted and disciplinary proceedings have produced misconduct findings, subsequent replacement cannot reopen the complainant's standing. The disciplinary order is assessed on the material before the disciplinary committee, rather than subsequent records.

GST claims arising from supplies before liquidation may be submitted when unquantified or disputed; later assessment does not restart the claim-submission period. The liquidation regulations cover claims existing at the liquidation commencement date, so liability arising only on a later assessment falls outside those regulations. The liquidator has no regulatory power to accept claims after the deadline. Section 42 permits a challenge to the liquidator's decision, not a fresh opportunity to submit a claim. Section 60(5) operates within the Code's time-bound framework, while Section 238A does not cure late claim submission where the challenge to rejection is timely. Even assuming delay can be condoned, sufficient cause must explain the delay consistently with orderly liquidation; government status grants no additional time.

Appeals against resolution plan approval must be filed within 30 days of pronouncement, with a further 15 days available for sufficient cause. Delayed knowledge or failure to notify claimants does not extend the outer limit, and exclusion of time for obtaining a certified copy requires an application. The resolution professional must inform claimants of the payment principle or formula after approval; non-compliance may invite regulatory action. Provident fund sums excluded from the liquidation estate fall outside the distribution waterfall, and admitted protected dues must be provided for in full. Interest and damages undetermined before insolvency proceedings commence are contingent liabilities that creditors may leave unprovided for. Claims not provided for are extinguished upon plan approval; admission and verification disputes may be challenged during insolvency proceedings.

Section 26 of the Prevention of Money Laundering Act, 2002 permits appeals against orders of the Adjudicating Authority, not direct appeals against provisional attachment orders. Provisional attachments are subject to adjudication under Sections 5 and 8. A direction to treat a writ petition as an appeal requires consideration according to law and does not remove statutory limits on appellate jurisdiction. A tribunal cannot exercise powers contrary to a statutory provision that has not been struck down.

Sections 5(4) and 5(5) of the SARFAESI Act permit an asset reconstruction company to substitute a bank in pending cheque-dishonour prosecutions relating to acquired financial assets; substitution is not confined to civil proceedings. Assignment of the underlying debt does not change the cheque's payee. Under Sections 5(2) and 5(3), an asset reconstruction company acquiring the debt and security cheques for consideration becomes their possessor and, read with Section 9 of the Negotiable Instruments Act, a holder in due course. Formal endorsement is not indispensable where a cheque is purchased for consideration. The assignee may maintain and prosecute the pending complaint.

Original works relating to a single residential unit outside a residential complex qualify for service tax exemption. Independent houses with separate access and utility connections qualify for the exemption. A service tax refund is not barred by unjust enrichment where the claimant bears the tax incidence. Where the housing board deposits tax under reverse charge and deducts that amount from the contractor's payments, the contractor bears the incidence, and the tax paid on qualifying construction is refundable.

Import restrictions on goods loaded before a notification and release on an enhanced valuation remain in question. Interim release has been directed subject to conditions concerning duty, a bank guarantee, and proof of manufacture and export. The conditions address the risk of irreparable harm while seeking to protect the domestic market. The writ petition remains pending without final adjudication.

Appeal before the appropriate authority may be filed within two weeks of receipt of the order. An appeal filed within that period is to be entertained without reference to limitation and decided on its merits in accordance with law, subject to compliance with all applicable conditions, including any required pre-deposit.

Commission expenditure paid to private parties cannot be disallowed as bogus on conjecture without a valid reason to distinguish it from comparable commission expenditure allowed for banks. The assessment noted non-deduction of tax, and checks of the ledger and bank account revealed no disputed payment by account-payee cheque. Where the reasons for disallowance are the same as those relating to the allowed bank commission, the private-party disallowance is unsustainable.

Systematic instruction in classical dance and allied arts can qualify as education for charitable purposes under the Income-tax Act when conducted without a profit motive. Training that imparts knowledge and skills in traditional dance and related arts, with expenditure directed towards the trust's objects, falls within this understanding of education. Rejection of the trust's application for approval under section 80G was erroneous, and the application requires fresh consideration.

Property investment payments made in an earlier year are distinguished from payments made during the relevant year; bank statements, registration deeds and gift deeds can establish the timing and source of payments. Gifts from a son and daughter-in-law fall within the exempt category, with bank records supporting the identity, creditworthiness and genuineness of the transfers. Rental income already offered for tax cannot be added again because the same income cannot be taxed twice.

A contingent income-tax liability disclosed in the notes to accounts and audit report cannot be disallowed while processing a return if it was not debited to the profit and loss account or claimed as expenditure. Reporting the liability as not allowable under section 37 does not justify an adjustment under section 143(1) where no expenditure deduction was claimed. Disclosure of the liability is distinct from claiming it as a deduction.