Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Applicability: The waiver provisions u/s 128A apply to cases involving tax demands u/s 73 for financial years 2017-18, 2018-19, and 2019-20, and cases involving erroneous refunds. To avail the waiver, the full tax amount demanded must be paid by the notified date, excluding amounts no longer payable due to retrospective amendments to Section 16(5) and 16(6). Procedure: Applications for waiver must be filed in prescribed forms, and proper officers will examine eligibility. Notices may be issued, and applicants can file replies. Orders approving or rejecting waiver applications will be issued, with deemed approval if no order is passed within the time limit. Appeals against rejection orders are allowed. Payments: Amounts paid towards the demand before the notified date, including by tax officers recovering from other persons, are considered payments for eligibility. Interest/penalty amounts cannot be adjusted against tax dues. Partial payments do not qualify for waiver. ITC can be utilized for payment, except for reverse charge/e-commerce operator liabilities and erroneous refund demands. Clarifications: The circular provides clarifications on various issues, including applicability to IGST/Cess demands, transitional credit demands, penalties under other provisions, import IGST.
Applicability: The waiver provisions u/s 128A apply to cases involving tax demands u/s 73 for financial years 2017-18, 2018-19, and 2019-20, and cases involving erroneous refunds. To avail the waiver, the full tax amount demanded must be paid by the notified date, excluding amounts no longer payable due to retrospective amendments to Section 16(5) and 16(6). Procedure: Applications for waiver must be filed in prescribed forms, and proper officers will examine eligibility. Notices may be issued, and applicants can file replies. Orders approving or rejecting waiver applications will be issued, with deemed approval if no order is passed within the time limit. Appeals against rejection orders are allowed. Payments: Amounts paid towards the demand before the notified date, including by tax officers recovering from other persons, are considered payments for eligibility. Interest/penalty amounts cannot be adjusted against tax dues. Partial payments do not qualify for waiver. ITC can be utilized for payment, except for reverse charge/e-commerce operator liabilities and erroneous refund demands. Clarifications: The circular provides clarifications on various issues, including applicability to IGST/Cess demands, transitional credit demands, penalties under other provisions, import IGST.
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