Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
ITAT adjudicated a tax dispute concerning return filing delay of 02 seconds. The tribunal held that a minimal technical delay of 02 seconds does not invalidate the return filing. Referencing precedent cases involving similar technical glitches, the tribunal determined that the return filed prior to midnight should be considered timely. The CPC's denial of carry forward loss claim was deemed incorrect. The AO was directed to treat the original return as filed within statutory time limits and consider the revised return for income computation. The Revenue's appeal was consequently dismissed, affirming the assessee's right to file returns without punitive consequences for negligible technical delays.
ITAT adjudicated a tax dispute concerning return filing delay of 02 seconds. The tribunal held that a minimal technical delay of 02 seconds does not invalidate the return filing. Referencing precedent cases involving similar technical glitches, the tribunal determined that the return filed prior to midnight should be considered timely. The CPC's denial of carry forward loss claim was deemed incorrect. The AO was directed to treat the original return as filed within statutory time limits and consider the revised return for income computation. The Revenue's appeal was consequently dismissed, affirming the assessee's right to file returns without punitive consequences for negligible technical delays.
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