Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
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Assessee claimed excess deduction under income from house property and received an excess refund; assessee voluntarily deposited the excess refund with interest and filed revised computations before issuance of notice u/s.148. Tribunal applied the principle that voluntary deposit of tax and interest prior to issuance of notice and disclosure of correct income in revised returns negates the basis for imposing penalty; accordingly the penalties under 271(1)(c) and 270A were deleted on the facts and in line with prior similar decisions where the excess refund was repaid before notice.
Assessee claimed excess deduction under income from house property and received an excess refund; assessee voluntarily deposited the excess refund with interest and filed revised computations before issuance of notice u/s.148. Tribunal applied the principle that voluntary deposit of tax and interest prior to issuance of notice and disclosure of correct income in revised returns negates the basis for imposing penalty; accordingly the penalties under 271(1)(c) and 270A were deleted on the facts and in line with prior similar decisions where the excess refund was repaid before notice.
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