Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
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Interest under section 234C cannot be levied for advance tax instalments falling due before a newly set up business begins operations, because income from that source was not yet capable of estimation on those dates. Reading section 234C with the proviso to section 3 and clause (c) of the proviso to section 234C(1), the Tribunal held that the assessee's business, which commenced on 17.10.2019, created no obligation to anticipate or pay business advance tax for the June and September instalments. The earlier instalments were excluded, and the interest was directed to be recomputed only for the period after commencement of business.
Interest under section 234C cannot be levied for advance tax instalments falling due before a newly set up business begins operations, because income from that source was not yet capable of estimation on those dates. Reading section 234C with the proviso to section 3 and clause (c) of the proviso to section 234C(1), the Tribunal held that the assessee's business, which commenced on 17.10.2019, created no obligation to anticipate or pay business advance tax for the June and September instalments. The earlier instalments were excluded, and the interest was directed to be recomputed only for the period after commencement of business.
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