Existing liability requires a crystallised tax demand arising from assessment or equivalent statutory tax mechanisms. The Board construes Existing Liability under Sec.230A as a demand created and due and outstanding, arising from an order of assessment or other statutory ... Summary
Existing liability requires a crystallised tax demand arising from assessment or equivalent statutory tax mechanisms.
The Board construes Existing Liability under Sec.230A as a demand created and due and outstanding, arising from an order of assessment or other statutory demand-creating mechanisms; advance tax and TDS demands are included even if no separate assessment order is passed, and the Board has withdrawn its earlier conflicting instruction.
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