Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Interest under section 234B was held not leviable where the assessee computed and paid advance tax in accordance with the law then in force, and the shortfall arose only because ICDS applicability was later deferred by a retrospective legal change. The Tribunal held that default in advance tax must be tested on the basis of the law existing when the assessee was required to estimate current income and pay advance tax. Since the later change was not foreseeable at the relevant time, the assessee could not be treated as in default, and the interest demand was deleted.
Interest under section 234B was held not leviable where the assessee computed and paid advance tax in accordance with the law then in force, and the shortfall arose only because ICDS applicability was later deferred by a retrospective legal change. The Tribunal held that default in advance tax must be tested on the basis of the law existing when the assessee was required to estimate current income and pay advance tax. Since the later change was not foreseeable at the relevant time, the assessee could not be treated as in default, and the interest demand was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
