Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
