Tax-audit exemption for substantially State-funded educational universities prevents audit-failure penalties where income qualifies for statutory exem...
Functional, asset and risk analysis excludes diversified technology companies from captive software development comparables under cost-plus arrangemen...
Mobile-phone electronic evidence failed to establish customs undervaluation, while duty survived on non-authentic origin certificates without importer...
Automotive radio classification treats integrated infotainment features as supplementary, placing complete and qualifying unassembled units under the ...
Separate corporate personality prevents directors from being personally liable for company deposits without a guarantee or independent legal undertaki...
Tax paid before adjudication cannot be recovered again through a demand where the Government had already received the short-paid amount; the tax demand was therefore set aside. For delayed GST payment, interest accrues only until cash is credited to the Government account and Electronic Cash Ledger through Form GST PMT-06, not until the later ledger debit on return filing. Interest paid on a residual tax shortfall cannot be set off against separate interest liabilities for delayed monthly payments. Penalty immunity applies only where tax and interest are paid within thirty days of the show-cause notice; payment after that period attracts the prescribed minimum penalty.
Tax paid before adjudication cannot be recovered again through a demand where the Government had already received the short-paid amount; the tax demand was therefore set aside. For delayed GST payment, interest accrues only until cash is credited to the Government account and Electronic Cash Ledger through Form GST PMT-06, not until the later ledger debit on return filing. Interest paid on a residual tax shortfall cannot be set off against separate interest liabilities for delayed monthly payments. Penalty immunity applies only where tax and interest are paid within thirty days of the show-cause notice; payment after that period attracts the prescribed minimum penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
