Advance tax deduction reduces the tax base for computing interest on late return filings; authorities must apply this to pending cases. Advance tax paid by registered firms is to be deducted in computing the tax amount on which interest for delayed return filing is charged; the Board accepts the High Court view and directs its application to pending proceedings, permitting relief in completed proceedings where lawful.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Advance tax deduction reduces the tax base for computing interest on late return filings; authorities must apply this to pending cases.
Advance tax paid by registered firms is to be deducted in computing the tax amount on which interest for delayed return filing is charged; the Board accepts the High Court view and directs its application to pending proceedings, permitting relief in completed proceedings where lawful.
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