Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Waiver of interest u/s 234A, 234B and 234C - marginal delay in filing the returns - The petitioner sought relief based on the timing of filing returns after receiving audit reports and financial challenges faced by the cooperative society. - The High Court, after careful consideration of submissions and legal principles, granted partial relief by waiving interest under Section 234A for certain assessment years. However, it refused to grant waivers under Sections 234B and 234C, emphasizing the importance of adhering to statutory timelines for tax payments.
Waiver of interest u/s 234A, 234B and 234C - marginal delay in filing the returns - The petitioner sought relief based on the timing of filing returns after receiving audit reports and financial challenges faced by the cooperative society. - The High Court, after careful consideration of submissions and legal principles, granted partial relief by waiving interest under Section 234A for certain assessment years. However, it refused to grant waivers under Sections 234B and 234C, emphasizing the importance of adhering to statutory timelines for tax payments.
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