Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Section 62(2) was applied to hold that an assessment made for non-filing of returns stands automatically withdrawn when the registered person files the returns for the relevant period and pays the tax, interest and late fee. On the petitioner's assertion that these requirements had been met, the assessment order was treated as deemed withdrawn, so recovery steps founded on it, including garnishee proceedings, could not continue. The relief was made subject to verification by the authorities of the date of filing and payment of the dues.
Section 62(2) was applied to hold that an assessment made for non-filing of returns stands automatically withdrawn when the registered person files the returns for the relevant period and pays the tax, interest and late fee. On the petitioner's assertion that these requirements had been met, the assessment order was treated as deemed withdrawn, so recovery steps founded on it, including garnishee proceedings, could not continue. The relief was made subject to verification by the authorities of the date of filing and payment of the dues.
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