Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The High Court considered a case involving non-payment/belated remittance of TDS u/s 276-B of the Income Tax Act. The issue centered on defining "reasonable cause" for the delay in remittance. The Petitioners demonstrated that they promptly remitted the TDS upon receiving fee reimbursements, mostly for students under a government scheme. The Court noted that penalties u/s 271C do not apply for mere belated remittance. Reference was made to Section 201(1A) and Section 276B consequences. Prosecution u/s 276B is subject to Section 278AA, requiring proof of reasonable cause for delay. The Court found the Petitioners' explanation valid, ruling in their favor and negating the need for criminal prosecution.
The High Court considered a case involving non-payment/belated remittance of TDS u/s 276-B of the Income Tax Act. The issue centered on defining "reasonable cause" for the delay in remittance. The Petitioners demonstrated that they promptly remitted the TDS upon receiving fee reimbursements, mostly for students under a government scheme. The Court noted that penalties u/s 271C do not apply for mere belated remittance. Reference was made to Section 201(1A) and Section 276B consequences. Prosecution u/s 276B is subject to Section 278AA, requiring proof of reasonable cause for delay. The Court found the Petitioners' explanation valid, ruling in their favor and negating the need for criminal prosecution.
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