Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
In cases where tax has been fully paid under Section 73 of CGST Act, and departmental appeals are solely related to interest or penalty calculations, the tax authority may withdraw such appeals. The instruction clarifies that taxpayers remain eligible for Section 128A benefits even if the department has initiated appellate proceedings, provided all other statutory conditions are met. The primary objective is to reduce litigation and prevent denial of relief based on technical grounds, ensuring taxpayers can avail waiver provisions for interest and penalty pertaining to Financial Years 2017-18, 2018-19, and 2019-20.
In cases where tax has been fully paid under Section 73 of CGST Act, and departmental appeals are solely related to interest or penalty calculations, the tax authority may withdraw such appeals. The instruction clarifies that taxpayers remain eligible for Section 128A benefits even if the department has initiated appellate proceedings, provided all other statutory conditions are met. The primary objective is to reduce litigation and prevent denial of relief based on technical grounds, ensuring taxpayers can avail waiver provisions for interest and penalty pertaining to Financial Years 2017-18, 2018-19, and 2019-20.
Note: It is a system-generated summary and is for quick reference only.
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