Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
The ITAT addressed the denial of tax regime option under section 115BAC. The tribunal held that the assessee's option to pay taxes under the new regime was valid, despite not filing Form No. 10-IE within the prescribed time. The court determined that since the assessee had previously opted for the new regime and filed the form in the preceding year, a fresh form was not required. The tribunal found the CPC's denial of the tax option was not in accordance with law and decided in favor of the assessee. Additionally, the tribunal condoned the 71-day delay in filing the appeal, considering the counsel's preoccupation as a sufficient reason.
The ITAT addressed the denial of tax regime option under section 115BAC. The tribunal held that the assessee's option to pay taxes under the new regime was valid, despite not filing Form No. 10-IE within the prescribed time. The court determined that since the assessee had previously opted for the new regime and filed the form in the preceding year, a fresh form was not required. The tribunal found the CPC's denial of the tax option was not in accordance with law and decided in favor of the assessee. Additionally, the tribunal condoned the 71-day delay in filing the appeal, considering the counsel's preoccupation as a sufficient reason.
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