Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
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.
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