Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The provisions of the IBC 2016 would prevail over the Income Tax Act 1961. Income Tax authorities have limited jurisdiction to assess/determine the quantum of Income Tax dues but have no authority to initiate recovery of such dues during the moratorium period under IBC. Income Tax Authorities are like creditors and may stake their claim before the liquidator or adjudicatory authority within the statutory limitation period under the waterfall mechanism of IBC. However, they are not barred from determining the tax dues for staking claims. CIT(A) erred in not adjudicating the issue on merit regarding determination of tax dues, despite the pendency of liquidation process. The case deserves to be restored to CIT(A) for disposal on merits.
The provisions of the IBC 2016 would prevail over the Income Tax Act 1961. Income Tax authorities have limited jurisdiction to assess/determine the quantum of Income Tax dues but have no authority to initiate recovery of such dues during the moratorium period under IBC. Income Tax Authorities are like creditors and may stake their claim before the liquidator or adjudicatory authority within the statutory limitation period under the waterfall mechanism of IBC. However, they are not barred from determining the tax dues for staking claims. CIT(A) erred in not adjudicating the issue on merit regarding determination of tax dues, despite the pendency of liquidation process. The case deserves to be restored to CIT(A) for disposal on merits.
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