Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
HC held that under Section 194A of Income Tax Act, 1961, the tax deductor was not liable for immediate penalty when TDS was not deducted from interest/finance charges paid to NBFCs. The AO must first provide an opportunity to the appellant to establish that the tax deductee has paid applicable taxes. The lower appellate authorities' orders were set aside, and the matter was remanded to the AO for fresh consideration, requiring a fair hearing to the appellant and verification of whether the NBFCs incorporated the receipts in their accounts and paid corresponding taxes.
HC held that under Section 194A of Income Tax Act, 1961, the tax deductor was not liable for immediate penalty when TDS was not deducted from interest/finance charges paid to NBFCs. The AO must first provide an opportunity to the appellant to establish that the tax deductee has paid applicable taxes. The lower appellate authorities' orders were set aside, and the matter was remanded to the AO for fresh consideration, requiring a fair hearing to the appellant and verification of whether the NBFCs incorporated the receipts in their accounts and paid corresponding taxes.
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