ITAT Pune allowed deduction under Sections 80P(2)(a)(i) and 80P(2)(d) on interest earned from deposits with co-operative and scheduled banks.
SC held a Ministers statement binds the Government only if it reflects the Governments view and declined to issue speech guidelines.
ITAT Hyderabad upheld the addition, holding reassessment under Sections 147/148 cannot be used to reduce income voluntarily declared in the original return.
Where the owner retains possession, effective control, operational responsibility and all commercial risks relating to vehicles deployed for transportation services, the arrangement remains a contract for services and not a transfer of the right to use goods. Exclusive deployment of goods for a customer, by itself, was insufficient to constitute a deemed sale under Article 366(29A)(d).
CAAR Delhi rejected the advance ruling application as the classification issue was already decided by the Madras High Court and the application could not be partly admitted.
CAAR Delhi classified Moving Style under Tariff Item 8528 59 00 and Floor Stand under 8529 90 90, applying Chapter Notes 6(D), 6(E) and principal function test.
CAAR Delhi classified TrackMan 4 and TrackMan iO under CTI 9506 39 00 as golf equipment, rejecting Heading 9031 as measurement was held ancillary.
Supreme Court granted bail under the PMLA, noting prolonged custody, documentary evidence, delayed trial, parity with co-accused, and no further recovery.
Hyderabad ITAT upheld capital gains on a registered sale deed but remanded LTCG computation for fresh verification of the cost of acquisition.
Supreme Court set aside the High Court’s PMLA bail order for failure to apply Section 45 twin conditions and remanded the matter for fresh consideration.
