Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
TDS credit must be allowed in the assessment year in which the related income is assessable, even if the deductor deposited tax and reflected it in Form 26AS in a later year. Following its earlier ruling, ITAT held that the assessee could not be denied credit for AY 2020-21 merely because of a timing mismatch in the deductor's reporting. The Assessing Officer was directed to grant the credit for that year, subject to verification that the same TDS credit is not claimed again in AY 2021-22.
TDS credit must be allowed in the assessment year in which the related income is assessable, even if the deductor deposited tax and reflected it in Form 26AS in a later year. Following its earlier ruling, ITAT held that the assessee could not be denied credit for AY 2020-21 merely because of a timing mismatch in the deductor's reporting. The Assessing Officer was directed to grant the credit for that year, subject to verification that the same TDS credit is not claimed again in AY 2021-22.
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