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...
Curative and clarificatory amendment to the Rule 89(5) refund formula applies retrospectively to refund or rectification applications filed within the statutory period, including differential claims for pre-amendment periods under an inverted duty structure. An administrative circular treating the amendment as prospective cannot override the statutory refund entitlement. Supplementary refund claims are maintainable despite earlier adjudication of refunds for the same tax periods, provided the differential amount is otherwise admissible and claimed within the prescribed period. Eligible differential refunds remain subject to arithmetical verification.
Curative and clarificatory amendment to the Rule 89(5) refund formula applies retrospectively to refund or rectification applications filed within the statutory period, including differential claims for pre-amendment periods under an inverted duty structure. An administrative circular treating the amendment as prospective cannot override the statutory refund entitlement. Supplementary refund claims are maintainable despite earlier adjudication of refunds for the same tax periods, provided the differential amount is otherwise admissible and claimed within the prescribed period. Eligible differential refunds remain subject to arithmetical verification.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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