Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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The Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer (AO) erred in denying the assessee's request for rectification u/s 154 of the Income Tax Act and allowing credit for the difference in Tax Deducted at Source (TDS) for the assessment year 2019-20. The AO had initially restricted TDS based on Rule 37BA but later rectified the mistake u/s 154, allowing credit for the difference. However, the AO subsequently issued a letter denying the rectification without giving the assessee an opportunity of being heard, which is a mandatory requirement u/s 154(3). The ITAT set aside the order of the Commissioner of Income Tax (Appeals) and directed the AO to give effect to the earlier rectification order allowing credit for the difference in TDS.
The Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer (AO) erred in denying the assessee's request for rectification u/s 154 of the Income Tax Act and allowing credit for the difference in Tax Deducted at Source (TDS) for the assessment year 2019-20. The AO had initially restricted TDS based on Rule 37BA but later rectified the mistake u/s 154, allowing credit for the difference. However, the AO subsequently issued a letter denying the rectification without giving the assessee an opportunity of being heard, which is a mandatory requirement u/s 154(3). The ITAT set aside the order of the Commissioner of Income Tax (Appeals) and directed the AO to give effect to the earlier rectification order allowing credit for the difference in TDS.
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