Change of corporate management after approved resolution plan - writ maintainable; property attachment not 'transfer' under PBPT; Section 32A protecti...
Annuloplasty band classification as implanted therapeutic appliance, not anatomical replacement, resulting in classification under tariff heading for ...
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Where the assessment order and demand notice specified "nil" demand, and tax demand arose only subsequently through rectification under s.154, the assessee could not be treated as in default under s.220(1) so as to trigger interest under s.220(2). Interest under s.220(2) can run only after expiry of 30 days from service of a fresh notice of demand under s.156 consequent to the rectification, and cannot be levied for any prior period; an assessee cannot be penalised for the AO's computational error in the original assessment. Interest levied under s.220(2) was held unsustainable and directed to be deleted. - ITAT
Where the assessment order and demand notice specified "nil" demand, and tax demand arose only subsequently through rectification under s.154, the assessee could not be treated as in default under s.220(1) so as to trigger interest under s.220(2). Interest under s.220(2) can run only after expiry of 30 days from service of a fresh notice of demand under s.156 consequent to the rectification, and cannot be levied for any prior period; an assessee cannot be penalised for the AO's computational error in the original assessment. Interest levied under s.220(2) was held unsustainable and directed to be deleted. - ITAT
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