Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
Concessional tax rate under section 115BAA is available where the taxpayer clearly exercised the option in the return and satisfied statutory conditions; delayed filing of prescribed Form 10 IC was treated as a procedural lapse eligible for condonation and the Tribunal directed acceptance of the concessional rate. The Tribunal applied the principle that procedure should not defeat substantive rights absent prejudice to revenue, relying on an administrative clarification by CBDT to permit extended filing. The Tribunal also held that it retained appellate jurisdiction to re determine the correct tax computation in the assessment despite parallel proceedings on the intimation.
Concessional tax rate under section 115BAA is available where the taxpayer clearly exercised the option in the return and satisfied statutory conditions; delayed filing of prescribed Form 10 IC was treated as a procedural lapse eligible for condonation and the Tribunal directed acceptance of the concessional rate. The Tribunal applied the principle that procedure should not defeat substantive rights absent prejudice to revenue, relying on an administrative clarification by CBDT to permit extended filing. The Tribunal also held that it retained appellate jurisdiction to re determine the correct tax computation in the assessment despite parallel proceedings on the intimation.
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