Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Statutory pre-deposit for an appeal against a penalty order does not apply under the proviso where the original order imposed a composite liability for tax, interest and penalty. Payment of the tax and interest components does not convert that original composite order into an order demanding penalty alone. A later recovery order confined to penalty likewise does not alter the character of the original order. Accordingly, rejection of the appeal for failure to deposit ten per cent of the penalty was set aside and the appeal was restored for adjudication on merits.
Statutory pre-deposit for an appeal against a penalty order does not apply under the proviso where the original order imposed a composite liability for tax, interest and penalty. Payment of the tax and interest components does not convert that original composite order into an order demanding penalty alone. A later recovery order confined to penalty likewise does not alter the character of the original order. Accordingly, rejection of the appeal for failure to deposit ten per cent of the penalty was set aside and the appeal was restored for adjudication on merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
