Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
Prosecution u/s 276C (2) - petitioners had delayed to pay self-assessment tax - The High Court held that delayed payment of income tax does not amount to tax evasion if the tax is eventually paid. In this case, since the tax and interest were paid prior to the issuance of the show cause notice, the court found that there was no evasion of tax. Consequently, the court allowed the petition and quashed the Complaint and all subsequent proceedings arising from them.
Prosecution u/s 276C (2) - petitioners had delayed to pay self-assessment tax - The High Court held that delayed payment of income tax does not amount to tax evasion if the tax is eventually paid. In this case, since the tax and interest were paid prior to the issuance of the show cause notice, the court found that there was no evasion of tax. Consequently, the court allowed the petition and quashed the Complaint and all subsequent proceedings arising from them.
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