Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Refund of the amount as deposited by the assesse towards part payment of demand raised - Time limit for completion of assessment, reassessment and recomputation - The High court referred to Section 153(5) and (7) of the Income Tax Act, 1961. It noted that since the remit ordered by the ITAT was prior to June 1, 2016, it was the AO's duty to frame final assessment orders by March 31, 2017. - Given the AO's failure to meet the statutory deadline for framing assessment orders, the court found no justification for the respondents to retain the deposited amounts. - The court allowed the petition and directed the respondents to refund the amounts along with applicable interest.
Refund of the amount as deposited by the assesse towards part payment of demand raised - Time limit for completion of assessment, reassessment and recomputation - The High court referred to Section 153(5) and (7) of the Income Tax Act, 1961. It noted that since the remit ordered by the ITAT was prior to June 1, 2016, it was the AO's duty to frame final assessment orders by March 31, 2017. - Given the AO's failure to meet the statutory deadline for framing assessment orders, the court found no justification for the respondents to retain the deposited amounts. - The court allowed the petition and directed the respondents to refund the amounts along with applicable interest.
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