Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Rejection of a compounding application filed beyond the prescribed time limit as per the CBDT circular. The High Court held that the CBDT cannot issue a circular contrary to the object of the provisions, and fixing a time limit for filing a compounding application is not permissible u/s 279(2) of the Income Tax Act. The Court ruled that once an offence is compoundable by law, its compoundability cannot be restricted by imposing a time limit. The impugned order was set aside, and the matter was remanded to the respondent to consider the compounding application on record, as the petitioner was not a habitual offender.
Rejection of a compounding application filed beyond the prescribed time limit as per the CBDT circular. The High Court held that the CBDT cannot issue a circular contrary to the object of the provisions, and fixing a time limit for filing a compounding application is not permissible u/s 279(2) of the Income Tax Act. The Court ruled that once an offence is compoundable by law, its compoundability cannot be restricted by imposing a time limit. The impugned order was set aside, and the matter was remanded to the respondent to consider the compounding application on record, as the petitioner was not a habitual offender.
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