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.
The ITAT held that revision under Section 263 cannot be invoked where the Assessing Officer has conducted detailed inquiries and adopted a plausible view. The Tribunal ruled that a mere change of opinion by the PCIT does not render the assessment order erroneous or prejudicial.
The High Court held that ITC cannot be denied solely due to delay in claiming it after retrospective amendments to GST law. The matter was remanded for fresh adjudication on other conditions.
The Tribunal held that dividend received from identifiable mutual funds through banking channels cannot be treated as unexplained income. It ruled that proper documentation and traceability negate applicability of Section 68.
