Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
HC held that assessment orders passed under Section 62 for non-filing of returns stood deemed withdrawn once the taxpayers later filed the returns for the relevant periods along with tax, interest and late fee. The statutory consequence under Section 62(2) barred further recovery on the basis of those assessment orders. Any amount already recovered under the withdrawn orders was directed to be adjusted against the taxpayers' outstanding tax dues.
HC held that assessment orders passed under Section 62 for non-filing of returns stood deemed withdrawn once the taxpayers later filed the returns for the relevant periods along with tax, interest and late fee. The statutory consequence under Section 62(2) barred further recovery on the basis of those assessment orders. Any amount already recovered under the withdrawn orders was directed to be adjusted against the taxpayers' outstanding tax dues.
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