GST refund limitation: COVID-19 exclusion preserves timely advance-tax refunds, while deficiency-memo corrections relate back to the original applicat...
Presumptive taxation of oilfield services applies to receipts inextricably connected with mineral-oil operations, while qualifying offshore supplies r...
Government financing for educational exemptions includes UGC grants and land-related notional interest, eliminating penalties tied to deleted addition...
IBC moratorium under section 14 prevents initiation or continuation of reassessment proceedings against a corporate debtor while the moratorium remains operative. Section 238 gives the Code overriding effect over inconsistent provisions of the Income-tax Act, so a faceless-assessment limitation period cannot create jurisdiction prohibited by the IBC. Reassessment completed during the operative moratorium is void ab initio; challenges to the underlying disallowances and additions remain open on their merits.
IBC moratorium under section 14 prevents initiation or continuation of reassessment proceedings against a corporate debtor while the moratorium remains operative. Section 238 gives the Code overriding effect over inconsistent provisions of the Income-tax Act, so a faceless-assessment limitation period cannot create jurisdiction prohibited by the IBC. Reassessment completed during the operative moratorium is void ab initio; challenges to the underlying disallowances and additions remain open on their merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
