Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Provident-fund and gratuity dues are excluded from the liquidation estate and cannot be distributed through the insolvency waterfall; a successful resolution applicant must discharge those dues, including statutory interest on arrears. Statutory interest compensates delayed contributions, whereas damages for delay are penal in nature. The expression "may recover" in Section 14B raises whether the authorised officer may decline to impose damages in extenuating circumstances, despite no requirement of mens rea or actus reus; that issue stands referred to a larger Bench. A successful resolution applicant may seek Central Board reduction or waiver of damages, treating resolution-plan implementation as comparable to rehabilitation.
Provident-fund and gratuity dues are excluded from the liquidation estate and cannot be distributed through the insolvency waterfall; a successful resolution applicant must discharge those dues, including statutory interest on arrears. Statutory interest compensates delayed contributions, whereas damages for delay are penal in nature. The expression "may recover" in Section 14B raises whether the authorised officer may decline to impose damages in extenuating circumstances, despite no requirement of mens rea or actus reus; that issue stands referred to a larger Bench. A successful resolution applicant may seek Central Board reduction or waiver of damages, treating resolution-plan implementation as comparable to rehabilitation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
