Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
Customs Broker licence proceedings require accurate procedural facts before delay or natural-justice findings can justify setting aside regulatory act...
Provisional assessment finalisation must precede export duty recovery, while redemption fine fails for goods already exported and unavailable for conf...
Where an income-tax refund is due and adjustment against an outstanding demand is proposed under section 245 of the Income-tax Act, 1961, the tax department may retain only the amount proposed for adjustment or withholding. It must promptly release the balance refund, without prejudicing either party's right to challenge the legality of the outstanding demand or the proposed adjustment. The balance refund was directed to be credited within the stipulated period; failure to do so would attract interest at the rate directed by the High Court.
Where an income-tax refund is due and adjustment against an outstanding demand is proposed under section 245 of the Income-tax Act, 1961, the tax department may retain only the amount proposed for adjustment or withholding. It must promptly release the balance refund, without prejudicing either party's right to challenge the legality of the outstanding demand or the proposed adjustment. The balance refund was directed to be credited within the stipulated period; failure to do so would attract interest at the rate directed by the High Court.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
