Judgements by CHEZHIYAN

Where the assessee-company had only acquired “access” to technical information under the agreement i.e. know-how which related to the process of manufacture, which was not, related to any secret process or patent rights or even the right to use a tra

Supreme Court on defects of Prevention of Money Laundering Act, 2002 and proposed/amended provisions The provisions of the Act in question are so provided that there may not be independent judiciary to decide the cases under the Act but t

Supreme Court on scope for exercise of discretion under section 11AC of Central Excise Act, 1944 Levy of penalty under section 11AC is a mandatory penalty and there is no scope for any discretion

SCOPE OF ADDING BACK PROVISION FOR DOUBTFUL DEBTS TO NET PROFIT UNDER SECTION 115JA OF IT ACT, 1961 RATIO DECIDENDI The provision for bad and doubtful debt can be added back to the net profit only if Item (c) of the Explanation to section 115

DEDUCTIBILITY OF DEPRECIATION FOR DETERMINING ELIGIBLE PROFITS UNDER SECTIONS 80-IB AND 80HHC OF IT ACT, 1961 RATIO DECIDENDI Depreciation allowance under section 32 will have to be deducted in arriving at the “profits and gains” of business

NATURE OF INCENTIVE SUBSIDY RECEIVED BY A SUGAR FACTORY UNDER SCHEME OF 1980, 1987,1988 & 1993 FOR PURPOSE OF IT ACT, 1961 RATIO DECIDENDI It is the object for which the subsidy/assistance is given which determines the nature of the incentive

Where the applicant is in the business of providing bioanalytical services to various pharmaceutical companies around the world, the consideration/fee paid by the Indian pharmaceutical companies to the applicant in respect of bioequivalence tests con

It is the object for which the subsidy/assistance is given which determines the nature of the incentive subsidy; the form of the mechanism through which the subsidy is given is irrelevant

The ex-gratia payment in excess of the limits prescribed under the payment of Bonus Act either under section 36(1)(ii) or section 37(1) of the Income-tax Act, is allowable as business expenditure although the payment does not cover contractual or cus

The ex-gratia payment in excess of the limits prescribed under the payment of Bonus Act either under section 36(1)(ii) or section 37(1) of the Income-tax Act, is allowable as business expenditure although the payment does not cover contractual or cus