Related-party creditor exclusion bars CoC participation where lender rights show policy-making involvement, and post-CIRP assignment cannot cure ineli...
Rectification of apparent typographical errors may proceed without hearing when tax liability, input tax credit, and ruling substance remain unchanged...
Mandatory interest under section 234B may be levied through rectification under section 154 when its earlier omission is an obvious error apparent from the record, including in a prior rectified order. A lower-deduction certificate under section 197 applies only to the projected income it covers and does not eliminate advance-tax liability on incremental or recharacterised assessed income. For such excess income, a non-resident payee must revise its estimate and pay advance tax, with section 234B interest on any shortfall. Interest must be recomputed in accordance with law after giving the taxpayer adequate opportunity. Finance Act, 2026 amendments to sections 153 and 144C govern the limitation objection to the final assessment.
Mandatory interest under section 234B may be levied through rectification under section 154 when its earlier omission is an obvious error apparent from the record, including in a prior rectified order. A lower-deduction certificate under section 197 applies only to the projected income it covers and does not eliminate advance-tax liability on incremental or recharacterised assessed income. For such excess income, a non-resident payee must revise its estimate and pay advance tax, with section 234B interest on any shortfall. Interest must be recomputed in accordance with law after giving the taxpayer adequate opportunity. Finance Act, 2026 amendments to sections 153 and 144C govern the limitation objection to the final assessment.
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