The Tribunal examined denial of exemption under Sections 11 and 12 due to delayed filing of audit reports. It held that the delay overlapped with COVID-19 disruptions and required reconsideration. The matter was remanded for fresh adjudication based on condonation outcome.
Madras High Court held that refund claim filed is rightly rejected since differential customs duty was paid voluntarily and not under protest during DRI [Directorate of Revenue Intelligence] investigation and closure of proceeding was requested by importer. Accordingly, writ petition is dismissed.
The Court held that differing judicial interpretations made the answer ambiguous. It granted relief by recognizing both answers as valid and directed accommodation of both candidates.
The Tribunal held that commission income cannot be computed on internal or circular banking transactions. It reduced the commission rate from 1.75% to 0.47% and directed recomputation after verification. The ruling emphasizes accurate determination of real in-come.
The Supreme Court held that the National Green Tribunal cannot order removal of encroachments when the dispute does not involve a substantial environmental question under Schedule I laws. The ruling clarifies limits of NGT jurisdiction in cases involving municipal or town planning violations.
The Supreme Court held that employer-provided group insurance benefits cannot be deducted from motor accident compensation as they arise from an independent contractual relationship. It ruled that such benefits do not have a direct nexus with the accident and cannot reduce statutory compensation.
The Tribunal held that interest earned by a co-operative society from deposits with co-operative banks qualifies for deduction under Section 80P(2)(d). It clarified that co-operative banks are also co-operative societies for this purpose.
ITAT Chennai held that the excess payment over the net book value of assets and liabilities acquired on account of amalgamation is in the nature of ‘goodwill’ and is eligible for depreciation u/s.32(1)(ii) of the Income Tax Act.
The Court held that a separate meeting of sub-class shareholders is not required when identical terms are offered to the entire class. It upheld that uniform treatment satisfies statutory requirements under Section 106.
Incomplete or inconsistent documents can slow down mortgage approval or lead to rejection. Proper preparation of identity, income, and property papers ensures faster processing.
