Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Limitation in customs appeals permits exclusion for bona fide refund proceedings, enabling restoration of Bill of Entry assessment challenges on merit...
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Paragraph (e) of the 1st Schedule to the Finance Act, 2018 permits a domestic company to be taxed at 25% for A.Y. 2018-19 if its total turnover or gross receipts for F.Y. 2015-16 do not exceed the prescribed threshold. The Tribunal noted that the return form for A.Y. 2018-19 did not provide a separate field for that earlier-year turnover, so the claim could not be denied merely for want of disclosure in the form. As the assessee relied on audited financial statements indicating turnover below the limit, the matter required verification of those financials and other relevant material by the Assessing Officer. The impugned order was set aside and the issue remanded for such verification.
Paragraph (e) of the 1st Schedule to the Finance Act, 2018 permits a domestic company to be taxed at 25% for A.Y. 2018-19 if its total turnover or gross receipts for F.Y. 2015-16 do not exceed the prescribed threshold. The Tribunal noted that the return form for A.Y. 2018-19 did not provide a separate field for that earlier-year turnover, so the claim could not be denied merely for want of disclosure in the form. As the assessee relied on audited financial statements indicating turnover below the limit, the matter required verification of those financials and other relevant material by the Assessing Officer. The impugned order was set aside and the issue remanded for such verification.
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