Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
The NCLAT held that a direction requiring the liquidator to submit a simpliciter income and expenditure account was only an enabling, interlocutory step and did not decide the refund claim on merits. Refund of TDS deducted on fixed-deposit interest, and the legality of such deduction in liquidation, fall within the domain of the Income Tax Authorities, because the I&B Code contains no provision empowering the Adjudicating Authority to order such refund. The appeal was therefore premature and not maintainable at this stage. Questions based on Section 140 of the Income Tax Act and any claimed exemption were left open for decision by the competent tax authority.
The NCLAT held that a direction requiring the liquidator to submit a simpliciter income and expenditure account was only an enabling, interlocutory step and did not decide the refund claim on merits. Refund of TDS deducted on fixed-deposit interest, and the legality of such deduction in liquidation, fall within the domain of the Income Tax Authorities, because the I&B Code contains no provision empowering the Adjudicating Authority to order such refund. The appeal was therefore premature and not maintainable at this stage. Questions based on Section 140 of the Income Tax Act and any claimed exemption were left open for decision by the competent tax authority.
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