Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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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