Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Rule 86A permits only a temporary restriction on debit of credit actually available in the Electronic Credit Ledger; it does not authorise the Commissioner or an authorised officer to create a negative balance by blocking more credit than stands to the taxpayer's account. The High Court also reiterated that prior show cause notice is not required before invoking Rule 86A, because the measure is preventive and intended for emergent situations, but that does not enlarge the statutory power. The impugned blocking beyond the available credit was unsustainable and was set aside, while the authorities were left free to pursue recovery through the statutory mechanisms available in law.
Rule 86A permits only a temporary restriction on debit of credit actually available in the Electronic Credit Ledger; it does not authorise the Commissioner or an authorised officer to create a negative balance by blocking more credit than stands to the taxpayer's account. The High Court also reiterated that prior show cause notice is not required before invoking Rule 86A, because the measure is preventive and intended for emergent situations, but that does not enlarge the statutory power. The impugned blocking beyond the available credit was unsustainable and was set aside, while the authorities were left free to pursue recovery through the statutory mechanisms available in law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
