Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
The article addresses whether interest under section 244A of the Income-tax Act applies to tax refunds determined under the Direct Tax Vivad se Vishwas Act (DTVSV). Applying precedent that treats a DTVSV-determined amount as a tax refund, the analysis concludes that where the Revenue retained funds without right, statutory entitlement to interest follows; the DTVSV Explanation concerning pre-declaration payments does not negate post-Form No.5 interest. The conclusion directs revenue authorities to grant interest for delay beyond the statutory period on refunds determined under DTVSV for the specified assessment years.
The article addresses whether interest under section 244A of the Income-tax Act applies to tax refunds determined under the Direct Tax Vivad se Vishwas Act (DTVSV). Applying precedent that treats a DTVSV-determined amount as a tax refund, the analysis concludes that where the Revenue retained funds without right, statutory entitlement to interest follows; the DTVSV Explanation concerning pre-declaration payments does not negate post-Form No.5 interest. The conclusion directs revenue authorities to grant interest for delay beyond the statutory period on refunds determined under DTVSV for the specified assessment years.
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