Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
The assessee made an undisclosed income declaration under Income Declaration Scheme-2016 for the assessment years 2010-11, 2011-12, and 2014-15, clubbing the income for 2012-13. The Principal Commissioner specified the amounts to be paid as tax, surcharge, and penalty in three installments. The assessee defaulted on the third installment payment due by 30.09.2017. However, a notification dated 13.02.2019 extended the payment date to 31.01.2020, along with 1% monthly interest, retrospectively effective from 01.06.2016. The assessee paid the balance tax with interest. The ITAT held that the assessee validly deposited the tax, surcharge, interest, and penalty under IDS-2016 and the 13.12.2019 notification, rectifying the default retrospectively. The CIT(A) failed to appreciate this retrospective rectification. Therefore, the issue was determined in favor of the assessee against the revenue.
The assessee made an undisclosed income declaration under Income Declaration Scheme-2016 for the assessment years 2010-11, 2011-12, and 2014-15, clubbing the income for 2012-13. The Principal Commissioner specified the amounts to be paid as tax, surcharge, and penalty in three installments. The assessee defaulted on the third installment payment due by 30.09.2017. However, a notification dated 13.02.2019 extended the payment date to 31.01.2020, along with 1% monthly interest, retrospectively effective from 01.06.2016. The assessee paid the balance tax with interest. The ITAT held that the assessee validly deposited the tax, surcharge, interest, and penalty under IDS-2016 and the 13.12.2019 notification, rectifying the default retrospectively. The CIT(A) failed to appreciate this retrospective rectification. Therefore, the issue was determined in favor of the assessee against the revenue.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
