Scientific research approval grants a research association tax recognition, subject to annual donor reporting, certification, and regulatory complianc...
Judicial discipline requires consistent reassessment treatment where identical facts were decided for the same taxpayer in the preceding assessment ye...
TDS credit transferred following amalgamation must be granted to the amalgamated entity where the related income is substantively assessed in its hands and the amalgamating entity has not claimed that credit. Section 199 read with Rule 37BA applies despite the TDS appearing under the amalgamating entity's PAN. Where the credit was claimed in the original and revised returns and subsequently allowed, refund interest under section 244A(1) is payable for the full applicable period. Delay cannot be excluded under section 244A(2) merely because the Assessing Officer wrongly attributes default to the taxpayer.
TDS credit transferred following amalgamation must be granted to the amalgamated entity where the related income is substantively assessed in its hands and the amalgamating entity has not claimed that credit. Section 199 read with Rule 37BA applies despite the TDS appearing under the amalgamating entity's PAN. Where the credit was claimed in the original and revised returns and subsequently allowed, refund interest under section 244A(1) is payable for the full applicable period. Delay cannot be excluded under section 244A(2) merely because the Assessing Officer wrongly attributes default to the taxpayer.
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TaxTMI 
TaxTMI 
