Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
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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