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...
Tax payable is material to prosecution for failure to furnish a return under Section 276CC because the statutory exception depends on the assessee's tax liability. Where no assessment or other tax determination exists, the complaint does not allege tax payable, and a refund claim remains unaddressed, prosecution is misconceived. Wilful failure is also essential: the statutory presumption of culpable mental state may be rebutted through evidence showing no intent to evade tax. Evidence that property was jointly acquired, loan-financed, and that sale consideration was received by the spouse rebutted wilfulness. The convictions and sentences were set aside, and the assessee was acquitted.
Tax payable is material to prosecution for failure to furnish a return under Section 276CC because the statutory exception depends on the assessee's tax liability. Where no assessment or other tax determination exists, the complaint does not allege tax payable, and a refund claim remains unaddressed, prosecution is misconceived. Wilful failure is also essential: the statutory presumption of culpable mental state may be rebutted through evidence showing no intent to evade tax. Evidence that property was jointly acquired, loan-financed, and that sale consideration was received by the spouse rebutted wilfulness. The convictions and sentences were set aside, and the assessee was acquitted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
