Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
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The Madras High Court addressed a case involving best judgment assessment due to the petitioner's failure to file GST returns within the prescribed time limit. The court noted that the limitation period for filing returns was extended to 120 days from 30 days, effective from 01.10.2023. However, traders prior to this period were not eligible for the extended timeframe. The petitioner argued that the actual tax liability was Rs. 2 lakhs, paid belatedly in August 2023, while the best judgment amount was Rs. 5 lakhs. The court allowed the petitioner to apply for condonation of delay, showing a sympathetic approach, and disposed of the writ petition accordingly.
The Madras High Court addressed a case involving best judgment assessment due to the petitioner's failure to file GST returns within the prescribed time limit. The court noted that the limitation period for filing returns was extended to 120 days from 30 days, effective from 01.10.2023. However, traders prior to this period were not eligible for the extended timeframe. The petitioner argued that the actual tax liability was Rs. 2 lakhs, paid belatedly in August 2023, while the best judgment amount was Rs. 5 lakhs. The court allowed the petitioner to apply for condonation of delay, showing a sympathetic approach, and disposed of the writ petition accordingly.
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