Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
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HC upheld rejection of rectification application filed under Section 35C(2) of Central Excise Act, 1944. Following precedent set in Hongo India Pvt Ltd case, court affirmed that statutory time limits for rectification applications cannot be extended beyond six months prescribed period. Post-2002 amendment reduced time limit from four years to six months for rectification of apparent mistakes in Tribunal orders. Tribunal lacks discretionary power to condone delays beyond statutory period, as Section 5 of Limitation Act remains excluded. Absence of explicit provision for condonation of delay in Section 35C(2) means strict adherence to six-month limitation. Appeal dismissed as Tribunal acted within jurisdictional bounds in rejecting time-barred application.
HC upheld rejection of rectification application filed under Section 35C(2) of Central Excise Act, 1944. Following precedent set in Hongo India Pvt Ltd case, court affirmed that statutory time limits for rectification applications cannot be extended beyond six months prescribed period. Post-2002 amendment reduced time limit from four years to six months for rectification of apparent mistakes in Tribunal orders. Tribunal lacks discretionary power to condone delays beyond statutory period, as Section 5 of Limitation Act remains excluded. Absence of explicit provision for condonation of delay in Section 35C(2) means strict adherence to six-month limitation. Appeal dismissed as Tribunal acted within jurisdictional bounds in rejecting time-barred application.
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