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...
The High Court held that the Revenue's decision to adjust the refund due to the petitioner for the assessment years 2008-09 and 2017-18 against the stayed demand for the assessment year 2015-16 was arbitrary. The court noted that granting stay of recovery subject to payment of 20% of the outstanding tax demand was in accordance with the CBDT's instructions. Adjusting refunds against the stayed demand would place the assessee entitled to a refund in a disadvantageous position compared to those without refunds. There was no allegation that the petitioner was alienating assets or unable to pay the disputed demand if confirmed. The court directed the Revenue to refund the amount due with applicable interest for the assessment years 2008-09 and 2017-18 within eight weeks.
The High Court held that the Revenue's decision to adjust the refund due to the petitioner for the assessment years 2008-09 and 2017-18 against the stayed demand for the assessment year 2015-16 was arbitrary. The court noted that granting stay of recovery subject to payment of 20% of the outstanding tax demand was in accordance with the CBDT's instructions. Adjusting refunds against the stayed demand would place the assessee entitled to a refund in a disadvantageous position compared to those without refunds. There was no allegation that the petitioner was alienating assets or unable to pay the disputed demand if confirmed. The court directed the Revenue to refund the amount due with applicable interest for the assessment years 2008-09 and 2017-18 within eight weeks.
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