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Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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The Supreme Court dismissed the Revenue's SLP for delay and on the merits, thereby affirming the High Court's order directing the Revenue to grant interest under section 244A on the refund from the date of TDS deposit until payment, to be completed within 12 weeks. Facts: compensation for acquisition of petitioners' agricultural land attracted interest; assessee's belated return was condoned under section 119(2)(b); tax was deducted under an incorrect provision (section 194C instead of section 194A). The SLP was held to be barred by an unexplained 398-day delay and lacked substantive merit, so the HC relief in favor of the assessee is sustained.
The Supreme Court dismissed the Revenue's SLP for delay and on the merits, thereby affirming the High Court's order directing the Revenue to grant interest under section 244A on the refund from the date of TDS deposit until payment, to be completed within 12 weeks. Facts: compensation for acquisition of petitioners' agricultural land attracted interest; assessee's belated return was condoned under section 119(2)(b); tax was deducted under an incorrect provision (section 194C instead of section 194A). The SLP was held to be barred by an unexplained 398-day delay and lacked substantive merit, so the HC relief in favor of the assessee is sustained.
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