New CBDT guidelines from 17-10-2024 revise procedures, eligibility, and charges for compounding income-tax offences. Covers filing rules, defect correction, repeat offence charges, and cases needing higher approval.
Summary of Section 40A disallowances, including payments to related parties, cash payments, gratuity provisions, non-statutory fund contributions, and marked-to-market losses under tax rules.
Understand the purpose, structure, due dates, and download process for Form 16 and Form 16A TDS certificates. Learn key requirements, penalties, and compliance rules under the Income-tax Act.
CESTAT Hyderabad held that imported Chinese Coke Breeze used for metallurgical purpose only and not for any other purpose like non-metal extraction, etc. would be entitled to benefit of Notification No.12/2012-Cus dt.17.03.2012. Accordingly, order set aside and appeal allowed.
The Tribunal held that the DRP erred in refusing to consider the USAID–AE agreement, which directly established the back-to-back cost-plus-6% model. It ruled that such crucial evidence cannot be dismissed on a procedural technicality and remanded the matter for fresh adjudication.
