Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Interest Liability on Electronic Credit Ledger Payments - Seeking levy of interest only on that part of the tax which is paid in cash - The High court concluded that the levy of interest depends not on the type of ledger used (cash or credit) but on the timing of the tax payment relative to the filing of returns. Interest is applicable on delays in tax payments made after the due date of return filing, regardless of whether the payment is from the Electronic Credit Ledger or the Cash Ledger. The court found that while the Monitoring Committee can issue guidelines, its decisions are not binding on the Proper Officer in the context of tax recovery. The Proper Officer retains autonomy in assessing and executing recovery based on individual case assessments.
Interest Liability on Electronic Credit Ledger Payments - Seeking levy of interest only on that part of the tax which is paid in cash - The High court concluded that the levy of interest depends not on the type of ledger used (cash or credit) but on the timing of the tax payment relative to the filing of returns. Interest is applicable on delays in tax payments made after the due date of return filing, regardless of whether the payment is from the Electronic Credit Ledger or the Cash Ledger. The court found that while the Monitoring Committee can issue guidelines, its decisions are not binding on the Proper Officer in the context of tax recovery. The Proper Officer retains autonomy in assessing and executing recovery based on individual case assessments.
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