Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
A refund determined for one assessment year cannot be adjusted under Section 245 against a tax demand covered by a subsisting, unchallenged interim stay order. The stay for assessment year 2022-23 was conditional on specified instalment deposits, had not been challenged or displaced by the Revenue, and was uploaded on the ITBA Portal by the jurisdictional Assessing Officer. Adjustment of the refund against that stayed demand therefore contravened the operative stay order. The High Court quashed the adjustment and directed restoration of the refund with applicable interest in accordance with law.
A refund determined for one assessment year cannot be adjusted under Section 245 against a tax demand covered by a subsisting, unchallenged interim stay order. The stay for assessment year 2022-23 was conditional on specified instalment deposits, had not been challenged or displaced by the Revenue, and was uploaded on the ITBA Portal by the jurisdictional Assessing Officer. Adjustment of the refund against that stayed demand therefore contravened the operative stay order. The High Court quashed the adjustment and directed restoration of the refund with applicable interest in accordance with law.
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