Interest waiver for migrant taxpayers: delayed-filing interest and penalties suspended where migration prevented statutory compliance. Board directs that, for migrant taxpayers from Kashmir Valley, disturbed conditions will be treated as reasonable cause: extend rule-based exemptions when applying the disallowance provision on related-party payments, apply the proviso for belated firm registration, withhold specified penalty proceedings where migration prevented compliance, and waive interest for delayed return filing and non-payment of advance tax up to filing date or one year from the end of the assessment year; concessions apply only to migrants assessed or assessable in the valley who filed returns outside it because of migration.
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.
Interest waiver for migrant taxpayers: delayed-filing interest and penalties suspended where migration prevented statutory compliance.
Board directs that, for migrant taxpayers from Kashmir Valley, disturbed conditions will be treated as reasonable cause: extend rule-based exemptions when applying the disallowance provision on related-party payments, apply the proviso for belated firm registration, withhold specified penalty proceedings where migration prevented compliance, and waive interest for delayed return filing and non-payment of advance tax up to filing date or one year from the end of the assessment year; concessions apply only to migrants assessed or assessable in the valley who filed returns outside it because of migration.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
