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...
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The ITAT Delhi considered the issue of adjusting seized fixed deposits with advance tax liability. The assessee requested adjustment on 11.04.2012, before filing a belated return on 26.03.2013. The tribunal held that the request was towards self-assessment tax, irrespective of the filing date. Lower authorities overlooked this. The seized deposits were later adjusted against regular tax arrears. The tribunal directed the AO to adjust the deposits towards self-assessment tax from 11.04.2012, recalculating interest u/s 234B. Adjustments made towards regular tax should be reversed.
The ITAT Delhi considered the issue of adjusting seized fixed deposits with advance tax liability. The assessee requested adjustment on 11.04.2012, before filing a belated return on 26.03.2013. The tribunal held that the request was towards self-assessment tax, irrespective of the filing date. Lower authorities overlooked this. The seized deposits were later adjusted against regular tax arrears. The tribunal directed the AO to adjust the deposits towards self-assessment tax from 11.04.2012, recalculating interest u/s 234B. Adjustments made towards regular tax should be reversed.
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