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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Declarations under section 194C(6) need not follow the CBDT circular format, but must contain essential freight-charge and goods-carriage registration particulars to establish eligibility for non-deduction of tax on payments to small transport operators. Declarations cannot be rejected solely for format non-compliance or lack of independent verification, although identified discrepancies or omissions must be put to the payer; the ITAT remanded the matter because transporter-specific deficiencies were not identified. Physical Form 26A certificates must also be examined under the first proviso to section 201(1) to determine whether payees included freight income in their returns and paid due tax. Assessee-in-default liability and the alternative Form 26A claim were remanded for fresh consideration.
Declarations under section 194C(6) need not follow the CBDT circular format, but must contain essential freight-charge and goods-carriage registration particulars to establish eligibility for non-deduction of tax on payments to small transport operators. Declarations cannot be rejected solely for format non-compliance or lack of independent verification, although identified discrepancies or omissions must be put to the payer; the ITAT remanded the matter because transporter-specific deficiencies were not identified. Physical Form 26A certificates must also be examined under the first proviso to section 201(1) to determine whether payees included freight income in their returns and paid due tax. Assessee-in-default liability and the alternative Form 26A claim were remanded for fresh consideration.
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