AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Deductions u/s 80IC - audit report in Form 10 CCB, due to inadvertence, had not been uploaded online on time - Power of CBDT to condone delay us 119 - Rectification u/s 154 - The High Court observed that the tax authority's failure to act on the rectification request for nearly six years constituted an unreasonable refusal to exercise its statutory powers, thereby violating its duty. Errors made by the petitioner’s Chartered Accountants should not prejudice the petitioner's entitlement to statutory deductions, echoing the principle that the objective of the law is not to penalize taxpayers for inadvertent errors. The court rejected a narrow interpretation of 'genuine hardship' that would only consider severe financial crises, highlighting that the loss of statutory benefits itself constitutes a genuine hardship.
Deductions u/s 80IC - audit report in Form 10 CCB, due to inadvertence, had not been uploaded online on time - Power of CBDT to condone delay us 119 - Rectification u/s 154 - The High Court observed that the tax authority's failure to act on the rectification request for nearly six years constituted an unreasonable refusal to exercise its statutory powers, thereby violating its duty. Errors made by the petitioner’s Chartered Accountants should not prejudice the petitioner's entitlement to statutory deductions, echoing the principle that the objective of the law is not to penalize taxpayers for inadvertent errors. The court rejected a narrow interpretation of 'genuine hardship' that would only consider severe financial crises, highlighting that the loss of statutory benefits itself constitutes a genuine hardship.
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