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...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Interest under section 244A on a refund claimed through a return filed after the statutory deadline depends on the return's validity and prior condonation of delay. A return filed late without a preceding condonation application is treated as invalid for this purpose. Clause (ii) of paragraph 6 of the CBDT circular applies generally to belated refund claims, rather than only to supplementary refund claims, when read with the circular's preceding provisions. Statutory interest is therefore unavailable on refunds claimed through such belated returns.
Interest under section 244A on a refund claimed through a return filed after the statutory deadline depends on the return's validity and prior condonation of delay. A return filed late without a preceding condonation application is treated as invalid for this purpose. Clause (ii) of paragraph 6 of the CBDT circular applies generally to belated refund claims, rather than only to supplementary refund claims, when read with the circular's preceding provisions. Statutory interest is therefore unavailable on refunds claimed through such belated returns.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
