Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
Limitation governing correction of TDS statements does not justify an employer's failure to file an original TDS statement or return; where no original filing exists, the correction-time-limit plea is inapplicable. An employer that deducts TDS acts as an agent for its collection and remittance and becomes an assessee in default if it neither deposits deducted tax nor files required returns. Recovery mechanisms, including a charge on the employer's assets, apply against the defaulting employer, while the employee must not suffer for that default. Filed statements require verification and employee grievances require redress.
Limitation governing correction of TDS statements does not justify an employer's failure to file an original TDS statement or return; where no original filing exists, the correction-time-limit plea is inapplicable. An employer that deducts TDS acts as an agent for its collection and remittance and becomes an assessee in default if it neither deposits deducted tax nor files required returns. Recovery mechanisms, including a charge on the employer's assets, apply against the defaulting employer, while the employee must not suffer for that default. Filed statements require verification and employee grievances require redress.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
