Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Compounding of offences for delayed remittance of tax deducted at source under Sections 276B and 278B was restored where stipulated charges were not paid within the prescribed period but were subsequently deposited in full. Financial difficulties and the company's subsequent liquidation were treated as bona fide reasons for the delay. The High Court extended the payment period up to the actual date of deposit, set aside rejection of the compounding applications, and made the earlier compounding order effective until that date. Restoration remained subject to additional costs payable to the Department, which could seek withdrawal of the deposited compounding charges. A second compounding application was unnecessary.
Compounding of offences for delayed remittance of tax deducted at source under Sections 276B and 278B was restored where stipulated charges were not paid within the prescribed period but were subsequently deposited in full. Financial difficulties and the company's subsequent liquidation were treated as bona fide reasons for the delay. The High Court extended the payment period up to the actual date of deposit, set aside rejection of the compounding applications, and made the earlier compounding order effective until that date. Restoration remained subject to additional costs payable to the Department, which could seek withdrawal of the deposited compounding charges. A second compounding application was unnecessary.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
