Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Belated filing of a GST return after a best judgment assessment under Section 62, together with payment of tax, interest and late fee, is treated as resulting in deemed withdrawal of the assessment order. The note records that once the return for the relevant period was filed and the statutory dues were discharged, recovery under the assessment order could not continue. It follows the cited High Court view that subsequent compliance cures the basis for pursuing recovery under the best judgment assessment.
Belated filing of a GST return after a best judgment assessment under Section 62, together with payment of tax, interest and late fee, is treated as resulting in deemed withdrawal of the assessment order. The note records that once the return for the relevant period was filed and the statutory dues were discharged, recovery under the assessment order could not continue. It follows the cited High Court view that subsequent compliance cures the basis for pursuing recovery under the best judgment assessment.
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