Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Delay in filing Form 10 was condoned where refusal would have exposed the assessee to tax liability and caused grave hardship despite no benefit arising from the delay. The High Court accepted the explanation that the default resulted from the Chartered Accountant's failure, supported by affidavit, and noted that the same officer had already condoned the delay in filing the return of income. On these facts, the rejection of condonation was unsustainable. The impugned order was quashed, the delay in Form 10 was condoned, and the return was directed to be processed in accordance with law.
Delay in filing Form 10 was condoned where refusal would have exposed the assessee to tax liability and caused grave hardship despite no benefit arising from the delay. The High Court accepted the explanation that the default resulted from the Chartered Accountant's failure, supported by affidavit, and noted that the same officer had already condoned the delay in filing the return of income. On these facts, the rejection of condonation was unsustainable. The impugned order was quashed, the delay in Form 10 was condoned, and the return was directed to be processed in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
