Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
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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.
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