Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
The High Court dismissed the writ petition filed against the Assessment Order, as the petitioner had already availed the statutory remedy of filing an appeal before the Commissioner of Income Tax (Appeals) [CIT(A)], which is presently pending. The Court held that the petitioner cannot approach the Court to evade payment of the statutory deposit required while preferring the appeal. The petitioner was granted liberty to file necessary applications before the CIT(A), raising all grounds to assail the Assessment Order. The CIT(A) was directed to hear and dispose of the pending appeal as per the provisions of law.
The High Court dismissed the writ petition filed against the Assessment Order, as the petitioner had already availed the statutory remedy of filing an appeal before the Commissioner of Income Tax (Appeals) [CIT(A)], which is presently pending. The Court held that the petitioner cannot approach the Court to evade payment of the statutory deposit required while preferring the appeal. The petitioner was granted liberty to file necessary applications before the CIT(A), raising all grounds to assail the Assessment Order. The CIT(A) was directed to hear and dispose of the pending appeal as per the provisions of law.
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