Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Self-assessed GST liability is discharged only when amounts credited to the Electronic Cash Ledger are debited and appropriated towards the relevant liability through the return. Mere deposit in the ledger before the return due date does not constitute payment or prevent interest under Section 50(1); interest accrues until actual debit, notwithstanding unsubstantiated technical difficulties. Recovery of the resulting interest after issuance of notice and consideration of objections does not breach principles of natural justice. The challenge to the interest demand and recovery proceedings was dismissed.
Self-assessed GST liability is discharged only when amounts credited to the Electronic Cash Ledger are debited and appropriated towards the relevant liability through the return. Mere deposit in the ledger before the return due date does not constitute payment or prevent interest under Section 50(1); interest accrues until actual debit, notwithstanding unsubstantiated technical difficulties. Recovery of the resulting interest after issuance of notice and consideration of objections does not breach principles of natural justice. The challenge to the interest demand and recovery proceedings was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4907 
