Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Denial of concessional tax under the 115BAA regime was addressed on whether late filing of the return u/s 139(4) precludes the option; the analysis holds that absence of an express bar prevents denial solely for filing the return belatedly and that the crucial factor is filing the option form 10IC within the prescribed period. The CBDT circular on condoning delays was deemed inapplicable because there was no delay in filing form 10IC. Procedural delay in form filing should not defeat the assessee's substantive right to concessional tax; assessee appeal allowed.
Denial of concessional tax under the 115BAA regime was addressed on whether late filing of the return u/s 139(4) precludes the option; the analysis holds that absence of an express bar prevents denial solely for filing the return belatedly and that the crucial factor is filing the option form 10IC within the prescribed period. The CBDT circular on condoning delays was deemed inapplicable because there was no delay in filing form 10IC. Procedural delay in form filing should not defeat the assessee's substantive right to concessional tax; assessee appeal allowed.
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