Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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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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