Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
A taxpayer showing prima facie prior payment of the same tax amount was entitled to place proof before the proper officer through a rectification application before any recovery action was taken. Where the revenue could not dispute that the receipt corresponded to the amount later treated as short-paid, the court directed verification in accordance with law to avoid double recovery of tax already paid. The petitioner was permitted to file the rectification application within the time granted, and the proper officer was required to consider it within a reasonable period.
A taxpayer showing prima facie prior payment of the same tax amount was entitled to place proof before the proper officer through a rectification application before any recovery action was taken. Where the revenue could not dispute that the receipt corresponded to the amount later treated as short-paid, the court directed verification in accordance with law to avoid double recovery of tax already paid. The petitioner was permitted to file the rectification application within the time granted, and the proper officer was required to consider it within a reasonable period.
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