Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
TDS on leave fare concession payments was disputed where the assessee bank had treated the benefit as exempt, but employees had undertaken foreign-leg journeys. Although the substantive exemption under section 10(5) was found against the assessee, the Tribunal held that liability as an assessee in default could not be fastened for the relevant period because binding interim High Court directions governed deduction of tax on LFC payments. Non-deduction in compliance with those judicial orders did not attract the rigours of section 201(1) or consequential interest under section 201(1A), and the subsequent Supreme Court ruling could not retrospectively create that default. The demand and interest were deleted.
TDS on leave fare concession payments was disputed where the assessee bank had treated the benefit as exempt, but employees had undertaken foreign-leg journeys. Although the substantive exemption under section 10(5) was found against the assessee, the Tribunal held that liability as an assessee in default could not be fastened for the relevant period because binding interim High Court directions governed deduction of tax on LFC payments. Non-deduction in compliance with those judicial orders did not attract the rigours of section 201(1) or consequential interest under section 201(1A), and the subsequent Supreme Court ruling could not retrospectively create that default. The demand and interest were deleted.
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