Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Revenue authorities cannot restrict tax deducted at source (TDS) credit based on assessee's original income tax return. When refund arises from appellate order, assessing officer must grant full TDS credit reflected in Form 26AS, along with applicable interest u/s 244A from April 1 of relevant assessment year. TDS deposited is treated as tax paid u/s 199, entitling assessee to interest. Assessing officer cannot limit TDS credit to return disclosures while giving effect to appellate order. Restricting legitimate TDS credit is illegal and inequitable. High Court quashed impugned order, directing revenue to allow full TDS credit per Form 26AS and recompute refund accordingly.
Revenue authorities cannot restrict tax deducted at source (TDS) credit based on assessee's original income tax return. When refund arises from appellate order, assessing officer must grant full TDS credit reflected in Form 26AS, along with applicable interest u/s 244A from April 1 of relevant assessment year. TDS deposited is treated as tax paid u/s 199, entitling assessee to interest. Assessing officer cannot limit TDS credit to return disclosures while giving effect to appellate order. Restricting legitimate TDS credit is illegal and inequitable. High Court quashed impugned order, directing revenue to allow full TDS credit per Form 26AS and recompute refund accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
