Business expenditure and depreciation rules allow operational outgoings while limiting disallowances for personal elements and unsupported third-party...
Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
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Failure to verify tax deduction at source compliance on remuneration and hire expenses incurred for motion-picture production can render an assessment erroneous and prejudicial to Revenue interests. The claimed expenditure required examination of the extent of TDS deduction and deposit, while an assertion that substantial expenditure represented reimbursements required supporting records and evidence. In the absence of such verification, revisional intervention and a fresh assessment were warranted. The TDS-related expense issue was to be reconsidered after giving the assessee an opportunity of hearing.
Failure to verify tax deduction at source compliance on remuneration and hire expenses incurred for motion-picture production can render an assessment erroneous and prejudicial to Revenue interests. The claimed expenditure required examination of the extent of TDS deduction and deposit, while an assertion that substantial expenditure represented reimbursements required supporting records and evidence. In the absence of such verification, revisional intervention and a fresh assessment were warranted. The TDS-related expense issue was to be reconsidered after giving the assessee an opportunity of hearing.
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