Prospective customs notification amendments cannot bar provisional release consideration for earlier imports when bills of lading predate their commen...
Personal guarantor insolvency jurisdiction follows the corporate debtor's CIRP Bench, enabling inter-territorial transfer and preventing parallel proc...
Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Reasonable cause under section 273B excused failures to deduct tax from rent paid to a Government-owned company and to collect tax on construction scrap. ITAT accepted the payer's bona fide belief that the Government-owned payee was a Government instrumentality not subject to tax deduction at source, treating that belief as reasonable cause; the rent-related penalty was deleted. ITAT also accepted the bona fide understanding that scrap arising from construction activities, including cutting and moulding materials, was not scrap covered by the tax-collection provisions because construction was not treated as manufacturing. The related tax-collection penalty was likewise deleted.
Reasonable cause under section 273B excused failures to deduct tax from rent paid to a Government-owned company and to collect tax on construction scrap. ITAT accepted the payer's bona fide belief that the Government-owned payee was a Government instrumentality not subject to tax deduction at source, treating that belief as reasonable cause; the rent-related penalty was deleted. ITAT also accepted the bona fide understanding that scrap arising from construction activities, including cutting and moulding materials, was not scrap covered by the tax-collection provisions because construction was not treated as manufacturing. The related tax-collection penalty was likewise deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4884 
