Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
A 53-day delay in filing Form 10-IC was held to be supported by bona fide reasons amounting to genuine hardship, because the taxpayer initially pursued start-up certification, then sought professional advice after refusal and arranged funds for self-assessment tax before opting for the section 115BAA regime. Applying a liberal construction of "genuine hardship" under section 119(2)(b) and the guidance in BM Malani, the Court found the delay neither deliberate nor tainted by mala fides. Refusal to condone would have denied an otherwise eligible taxpayer the section 115BAA benefit and caused substantial tax hardship. The impugned rejection was quashed and the competent authority was directed to accept the form for Assessment Year 2022-23.
A 53-day delay in filing Form 10-IC was held to be supported by bona fide reasons amounting to genuine hardship, because the taxpayer initially pursued start-up certification, then sought professional advice after refusal and arranged funds for self-assessment tax before opting for the section 115BAA regime. Applying a liberal construction of "genuine hardship" under section 119(2)(b) and the guidance in BM Malani, the Court found the delay neither deliberate nor tainted by mala fides. Refusal to condone would have denied an otherwise eligible taxpayer the section 115BAA benefit and caused substantial tax hardship. The impugned rejection was quashed and the competent authority was directed to accept the form for Assessment Year 2022-23.
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