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...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Form No. 26A compliance may prevent disallowance of interest expenditure for non-deduction of tax where payees have reported the income, paid tax and supplied complete accountant's certificates; portal-related delay not attributable to the payer does not invalidate that compliance. The notes also state that interest-free business advances do not generate taxable notional interest without a contractual right, actual accrual or receipt, or statutory basis. An ICDS amount entered in the wrong return column should be corrected rather than added twice. A substantiated creditor balance cannot be treated as unexplained solely because the supplier does not answer a notice, and section 68 does not cover an opening balance. Remaining business loss requires verification for lawful carry-forward.
Form No. 26A compliance may prevent disallowance of interest expenditure for non-deduction of tax where payees have reported the income, paid tax and supplied complete accountant's certificates; portal-related delay not attributable to the payer does not invalidate that compliance. The notes also state that interest-free business advances do not generate taxable notional interest without a contractual right, actual accrual or receipt, or statutory basis. An ICDS amount entered in the wrong return column should be corrected rather than added twice. A substantiated creditor balance cannot be treated as unexplained solely because the supplier does not answer a notice, and section 68 does not cover an opening balance. Remaining business loss requires verification for lawful carry-forward.
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