Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
The pre-amended Section 200A of the Income Tax Act did not permit processing of TDS statements for default in payment of late fee u/s 234E. Hence, late fee charged for belated filing of TDS quarterly returns could not be recovered through processing u/s 200A. As per Karnataka Grameen Bank case, the amendment allowing imposition of fee u/s 234E during processing u/s 200A came into effect from 01.06.2015 with prospective effect. Therefore, levy of late fee u/s 234E would be illegal for TDS statements pertaining to periods prior to 01.06.2015. Consequently, the demand raised with reference to Section 234E cannot be countenanced under the pre-amended provision of Section 200A and requires quashing.
The pre-amended Section 200A of the Income Tax Act did not permit processing of TDS statements for default in payment of late fee u/s 234E. Hence, late fee charged for belated filing of TDS quarterly returns could not be recovered through processing u/s 200A. As per Karnataka Grameen Bank case, the amendment allowing imposition of fee u/s 234E during processing u/s 200A came into effect from 01.06.2015 with prospective effect. Therefore, levy of late fee u/s 234E would be illegal for TDS statements pertaining to periods prior to 01.06.2015. Consequently, the demand raised with reference to Section 234E cannot be countenanced under the pre-amended provision of Section 200A and requires quashing.
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