Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Once an application under section 220(6) of the Income-tax Act, 1961 was allowed and the assessee was treated as not in default, the consequential demand for the earlier assessment year stood stayed, and the revenue lacked authority to adjust refunds of a later assessment year against that stayed demand. As the assessee had already deposited more than 20% of the disputed tax to secure stay, the adjustment made from the refundable amount of the subsequent assessment year was held impermissible. The revenue was directed to refund the amount adjusted pursuant to the intimation, excluding the amount deposited for stay, within the stipulated time. - HC
Once an application under section 220(6) of the Income-tax Act, 1961 was allowed and the assessee was treated as not in default, the consequential demand for the earlier assessment year stood stayed, and the revenue lacked authority to adjust refunds of a later assessment year against that stayed demand. As the assessee had already deposited more than 20% of the disputed tax to secure stay, the adjustment made from the refundable amount of the subsequent assessment year was held impermissible. The revenue was directed to refund the amount adjusted pursuant to the intimation, excluding the amount deposited for stay, within the stipulated time. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
