Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
During a 2014 search operation, seized cash adjustment against advance tax liability was denied per Section 132B and Explanation 2. ITAT held that while self-assessment tax qualifies as 'existing liability', the assessee failed to include seized cash in total income computation. The matter of adjusting seized cash against self-assessment tax was remanded to AO for verification of circumstances similar to precedent case. Regarding interest u/s 220, ITAT ruled the assessee cannot be deemed in default as seized cash was already with Department within 30-day notice period. AO directed to adjust seized cash against tax liability if self-assessment tax adjustment relief is denied post verification.
During a 2014 search operation, seized cash adjustment against advance tax liability was denied per Section 132B and Explanation 2. ITAT held that while self-assessment tax qualifies as 'existing liability', the assessee failed to include seized cash in total income computation. The matter of adjusting seized cash against self-assessment tax was remanded to AO for verification of circumstances similar to precedent case. Regarding interest u/s 220, ITAT ruled the assessee cannot be deemed in default as seized cash was already with Department within 30-day notice period. AO directed to adjust seized cash against tax liability if self-assessment tax adjustment relief is denied post verification.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
