The bench stated that the ITAT did not err in holding that the payoff was an allowable business expenditure

Issues notices to Pyramid Audio India, Evergreen Media and Prasad Film Laboratories

Cites the decision of the Supreme Court in a previous matter

It cannot take refuge under the Uttar Pradesh Trade Tax Act, 1948

Cites conditions of Article 13 under the Double Taxation Avoidance Agreement

Cites its ruling in a similar previous case

The dispute was between Tata Steel Utilities and Jharkhand Urban Infra on the Chakradharpur Urban Water Supply Scheme

It hoped that they would refrain from 'judicial adventurism' while dealing with special legislation

Remands the matter for reconsideration, directing the authorities to reconsider the application on its merits

Rules that the State authority erred in applying the tax

Appoints Justice P. Naveen Rao, former Acting Chief Justice, as the sole arbitrator

The Bangalore bench of the Income Tax Appellate Tribunal has held that once the Income Tax Department accepts the capital