Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
Fourth Proviso to Section 153A: extended-period inquiry requires a reasonable, material-based satisfaction that escaped income likely exceeds the thre...
Determination turns on whether electronic debit or challan generation marks the payment date for advance tax. The tribunal found that an electronic netbanking debit reflected in the taxpayer's bank statement on the statutory due date constitutes payment; delay in generation/credit of the challan due to bank/technical processes is beyond the taxpayer's control. The presumption that payment was timely stands unless Revenue proves otherwise. Consequently, interest under advancetax delay provisions was not leviable and the relief was granted to the taxpayer.
Determination turns on whether electronic debit or challan generation marks the payment date for advance tax. The tribunal found that an electronic netbanking debit reflected in the taxpayer's bank statement on the statutory due date constitutes payment; delay in generation/credit of the challan due to bank/technical processes is beyond the taxpayer's control. The presumption that payment was timely stands unless Revenue proves otherwise. Consequently, interest under advancetax delay provisions was not leviable and the relief was granted to the taxpayer.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
