Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
No time limit prescribed u/s 279(2) of Income Tax Act for filing compounding application. CBDT circular fixing 36-month limitation period held contrary to the Act and impermissible. Judgment in Jayshree's case applied, holding CBDT cannot issue circular contrary to the object of statutory provisions. Once an offence is compoundable under the Act, right cannot be taken away by prescribing time limit through circular. Impugned order rejecting compounding application set aside.
No time limit prescribed u/s 279(2) of Income Tax Act for filing compounding application. CBDT circular fixing 36-month limitation period held contrary to the Act and impermissible. Judgment in Jayshree's case applied, holding CBDT cannot issue circular contrary to the object of statutory provisions. Once an offence is compoundable under the Act, right cannot be taken away by prescribing time limit through circular. Impugned order rejecting compounding application set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
