Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
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The ITAT set aside ex parte appellate orders dismissing the assessee's appeals as time barred, holding that delay should not defeat consideration where the challenge goes to the jurisdiction to levy late fee under section 234E for the period before 1 June 2015. Following the Kerala High Court decision in Jiji Varghese, the Tribunal held that the first appellate authority ought to have condoned the delay and heard the appeals on merits. It did not decide the validity of the levy itself and remanded the matters for fresh adjudication after giving the assessee a reasonable opportunity of hearing.
The ITAT set aside ex parte appellate orders dismissing the assessee's appeals as time barred, holding that delay should not defeat consideration where the challenge goes to the jurisdiction to levy late fee under section 234E for the period before 1 June 2015. Following the Kerala High Court decision in Jiji Varghese, the Tribunal held that the first appellate authority ought to have condoned the delay and heard the appeals on merits. It did not decide the validity of the levy itself and remanded the matters for fresh adjudication after giving the assessee a reasonable opportunity of hearing.
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