Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
TDS credit cannot be denied where the assessee establishes that tax was deducted from its income, merely because the deductor failed to deposit it with the Central Government. A claim admitted in the deductor's insolvency process for unpaid receivables does not preclude such credit. The Assessing Officer must verify the claim under the prescribed procedure and grant credit and consequential relief if established. An intimation under Section 143(1), as a deemed notice of demand, must be served on the assessee before the demand can be enforced. In the absence of proof of service, recovery and refund adjustment under Section 245 cannot stand; the demand is quashed and adjusted amounts must be refunded with applicable interest.
TDS credit cannot be denied where the assessee establishes that tax was deducted from its income, merely because the deductor failed to deposit it with the Central Government. A claim admitted in the deductor's insolvency process for unpaid receivables does not preclude such credit. The Assessing Officer must verify the claim under the prescribed procedure and grant credit and consequential relief if established. An intimation under Section 143(1), as a deemed notice of demand, must be served on the assessee before the demand can be enforced. In the absence of proof of service, recovery and refund adjustment under Section 245 cannot stand; the demand is quashed and adjusted amounts must be refunded with applicable interest.
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