Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
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Where TDS is tendered by cheque to the authorised bank within the prescribed due date and the cheque is honoured without dishonour, payment relates back to the date of tender. The Tribunal relied on the bank acknowledgment, draft challans and bank letter to find that the cheque was presented on time, and that realisation on the next working day was only because the intervening day was a holiday. On that basis, there was no default in deposit of TDS and no liability to interest under section 201(1A); the interest levy was deleted and the connected appeal followed the same result.
Where TDS is tendered by cheque to the authorised bank within the prescribed due date and the cheque is honoured without dishonour, payment relates back to the date of tender. The Tribunal relied on the bank acknowledgment, draft challans and bank letter to find that the cheque was presented on time, and that realisation on the next working day was only because the intervening day was a holiday. On that basis, there was no default in deposit of TDS and no liability to interest under section 201(1A); the interest levy was deleted and the connected appeal followed the same result.
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