Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
The High Court disposed of the petition, holding that the rejection of the petitioner's declaration under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDR Scheme) on the ground that redemption fine is not covered by the Scheme was contrary to the Court's previous decision. The Court ruled that once the petitioner's application under the SVLDR Scheme accepting payment of excise duty is accepted, the declarant is immune from imposition of any redemption fine, and the benefit of the Scheme extends to the redemption fine as well. Consequently, the ground for rejection was held to be bad in law.
The High Court disposed of the petition, holding that the rejection of the petitioner's declaration under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDR Scheme) on the ground that redemption fine is not covered by the Scheme was contrary to the Court's previous decision. The Court ruled that once the petitioner's application under the SVLDR Scheme accepting payment of excise duty is accepted, the declarant is immune from imposition of any redemption fine, and the benefit of the Scheme extends to the redemption fine as well. Consequently, the ground for rejection was held to be bad in law.
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