Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The proviso to Section 276CC bars prosecution for failure to furnish an income-tax return where tax payable on total income determined on regular assessment, after reducing advance tax and tax deducted at source, does not exceed the prescribed threshold. Where no tax remains due and tax deducted at source exceeds the assessed liability, delayed filing cannot sustain prosecution. On these facts, continuation of criminal proceedings constituted an abuse of process and the prosecution was quashed.
The proviso to Section 276CC bars prosecution for failure to furnish an income-tax return where tax payable on total income determined on regular assessment, after reducing advance tax and tax deducted at source, does not exceed the prescribed threshold. Where no tax remains due and tax deducted at source exceeds the assessed liability, delayed filing cannot sustain prosecution. On these facts, continuation of criminal proceedings constituted an abuse of process and the prosecution was quashed.
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