Business expenditure and depreciation rules allow operational outgoings while limiting disallowances for personal elements and unsupported third-party...
Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Consequential assessment orders giving effect to appellate directions that require verification and an opportunity to the assessee must be completed within the limitation period applicable under section 153(3), as extended by TOLA where relevant. Where the appellate order was received during FY 2019-20, the consequential order had to be made by 31 March 2022. An order issued after that date is time-barred and cannot support a demand notice. In the absence of a valid fresh assessment, the returned income must be accepted, and amounts deposited against the invalid demand are refundable with interest.
Consequential assessment orders giving effect to appellate directions that require verification and an opportunity to the assessee must be completed within the limitation period applicable under section 153(3), as extended by TOLA where relevant. Where the appellate order was received during FY 2019-20, the consequential order had to be made by 31 March 2022. An order issued after that date is time-barred and cannot support a demand notice. In the absence of a valid fresh assessment, the returned income must be accepted, and amounts deposited against the invalid demand are refundable with interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
