Rental income valuation requires credible local comparables; family-business salary and commercially expedient unsecured-loan interest remained deduct...
Strict construction of customs exemptions denied concession for brake components, while limitation restricted differential duty to timely Bills of Ent...
Way Leave Permissions cannot be retrospectively revived through insolvency plans, and affected infrastructure holders require safety review and hearin...
The proviso to Section 270AA(4) bars rejection of a penalty-immunity application without a meaningful opportunity of hearing. Notice requiring appearance on the following day, followed by immediate rejection, was insufficient to allow applicants to present and substantiate their claims. The rejection orders were set aside, and the applications were remitted for fresh consideration after hearing the applicants and considering their material. Assessing Authorities were entitled to await expiry of the prescribed appeal period before deciding the applications; that delay did not invalidate the process.
The proviso to Section 270AA(4) bars rejection of a penalty-immunity application without a meaningful opportunity of hearing. Notice requiring appearance on the following day, followed by immediate rejection, was insufficient to allow applicants to present and substantiate their claims. The rejection orders were set aside, and the applications were remitted for fresh consideration after hearing the applicants and considering their material. Assessing Authorities were entitled to await expiry of the prescribed appeal period before deciding the applications; that delay did not invalidate the process.
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TaxTMI 
TaxTMI 
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