Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing Officer for claiming credit of TDS in the concerned year, and the AO may allow the claim in accordance with law. Regarding current year business loss, the Assessing Officer is directed to verify the assessee's claim and consider the current year business loss while computing the assessed income as per law. The appeal grounds related to TDS credit are allowed for statistical purposes by the Appellate Tribunal.
Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing Officer for claiming credit of TDS in the concerned year, and the AO may allow the claim in accordance with law. Regarding current year business loss, the Assessing Officer is directed to verify the assessee's claim and consider the current year business loss while computing the assessed income as per law. The appeal grounds related to TDS credit are allowed for statistical purposes by the Appellate Tribunal.
Note: It is a system-generated summary and is for quick reference only.
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