Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Condonation of delay under the tax regime was granted where...
Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as a valid return.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Condonation of delay under the tax regime was granted where internal directoral disputes and pending company-law proceedings before the NCLT delayed finalisation of accounts; the court held those circumstances constituted reasonable cause for a 169-day delay and set aside earlier refusals. Supporting documents for the NCLT proceedings were accepted as proof of the impediment, and the court directed the belated filing to be uploaded and treated as a valid return under the statutory provision for treated returns, permitting filing within four weeks and reopening the e filing window.
Condonation of delay under the tax regime was granted where internal directoral disputes and pending company-law proceedings before the NCLT delayed finalisation of accounts; the court held those circumstances constituted reasonable cause for a 169-day delay and set aside earlier refusals. Supporting documents for the NCLT proceedings were accepted as proof of the impediment, and the court directed the belated filing to be uploaded and treated as a valid return under the statutory provision for treated returns, permitting filing within four weeks and reopening the e filing window.
Note: It is a system-generated summary and is for quick reference only.