Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
The petitioner is entitled to carry forward the reduced Minimum Alternate Tax (MAT) Credit for payment of taxes under the Direct Tax Vivad se Vishwas (DTVSV) Scheme. The respondent, while calculating the amount payable in Form 3 regarding tax arrears and amount payable under DTVSV, failed to consider the Assessing Officer's order permitting the petitioner to carry forward the MAT Credit. The High Court quashed Form 3 and the rectification order, remanding the matter to the respondent to recalculate the entitlement of refund in accordance with the Scheme and Rules, applying Rule 10, and considering the Assessing Officer's order u/s 154 giving effect to the CIT(A) order regarding the MAT Credit carry forward.
The petitioner is entitled to carry forward the reduced Minimum Alternate Tax (MAT) Credit for payment of taxes under the Direct Tax Vivad se Vishwas (DTVSV) Scheme. The respondent, while calculating the amount payable in Form 3 regarding tax arrears and amount payable under DTVSV, failed to consider the Assessing Officer's order permitting the petitioner to carry forward the MAT Credit. The High Court quashed Form 3 and the rectification order, remanding the matter to the respondent to recalculate the entitlement of refund in accordance with the Scheme and Rules, applying Rule 10, and considering the Assessing Officer's order u/s 154 giving effect to the CIT(A) order regarding the MAT Credit carry forward.
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