Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Application u/s 154 - benefit of the second proviso to Section 40(a)(ia), introduced by the Finance Act, 2012, with effect from 01.04.2013 - This proviso allows relief if the payee has paid taxes on the receipts, even if the tax deduction at source was not made by the payer. - The Tribunal rules in favor of the assessee, holding that the rectification sought u/s 154 is maintainable. It directs the issue back to the Assessing Officer for consideration on merits regarding the quantum of benefit allowable to the assessee under the second proviso to Section 40(a)(ia) of the Act.
Application u/s 154 - benefit of the second proviso to Section 40(a)(ia), introduced by the Finance Act, 2012, with effect from 01.04.2013 - This proviso allows relief if the payee has paid taxes on the receipts, even if the tax deduction at source was not made by the payer. - The Tribunal rules in favor of the assessee, holding that the rectification sought u/s 154 is maintainable. It directs the issue back to the Assessing Officer for consideration on merits regarding the quantum of benefit allowable to the assessee under the second proviso to Section 40(a)(ia) of the Act.
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TaxTMI 
TaxTMI 
