Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The HC allowed the petition and directed condonation of delay under section 119(2)(b) for filing the return of income, holding that refusal would cause genuine hardship and frustrate the NCLT-approved resolution plan. The court found the petitioner assumed management only after approval of the resolution plan, promptly audited accounts and filed returns, and faced administrative impediments including prior non-audit and GST cancellation (later restored). The HC emphasized that denying carry-forward rights would nullify the resolution plan binding on authorities; it did not adjudicate entitlement to losses but granted relief to effectuate the resolution process and avoid genuine hardship to the petitioner.
The HC allowed the petition and directed condonation of delay under section 119(2)(b) for filing the return of income, holding that refusal would cause genuine hardship and frustrate the NCLT-approved resolution plan. The court found the petitioner assumed management only after approval of the resolution plan, promptly audited accounts and filed returns, and faced administrative impediments including prior non-audit and GST cancellation (later restored). The HC emphasized that denying carry-forward rights would nullify the resolution plan binding on authorities; it did not adjudicate entitlement to losses but granted relief to effectuate the resolution process and avoid genuine hardship to the petitioner.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
