Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
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Customs seizure safeguards prevent detention-based limitation avoidance and invalidate provisional release conditions for imported vehicles under an i...
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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