Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Excess TDS becomes refundable where reassessment proceedings initiated under section 148 accept the return and determine nil taxable income. Under section 237, tax paid in excess of tax properly chargeable must be refunded; no outstanding liability remains after such assessment. The refund is consequential to the reassessment rather than a fresh claim beyond its scope. The principle applies even where reassessment proceedings are dropped or culminate without additional taxable income, and the restriction on reopening concluded matters does not bar this consequential relief. Statutory interest on the excess TDS refund follows in accordance with law.
Excess TDS becomes refundable where reassessment proceedings initiated under section 148 accept the return and determine nil taxable income. Under section 237, tax paid in excess of tax properly chargeable must be refunded; no outstanding liability remains after such assessment. The refund is consequential to the reassessment rather than a fresh claim beyond its scope. The principle applies even where reassessment proceedings are dropped or culminate without additional taxable income, and the restriction on reopening concluded matters does not bar this consequential relief. Statutory interest on the excess TDS refund follows in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
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