Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
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 4805
Join Channel
TaxTMI 
