Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
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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