The Tribunal held that even a marginal increase in ITC must be passed on to buyers. Failure resulted in refund liability with interest under Section 171. The ruling confirms that interest is payable from the date of excess collection. Arguments to defer interest to project completion were rejected.
The case confirms that an increase in ITC must result in price reduction for buyers. The Tribunal found profiteering where such benefit was not passed on, directing refund with interest.
The Court held that cancellation for non-filing of returns may be reconsidered if pending returns and dues are cleared. It directed authorities to evaluate restoration upon compliance with Rule 22.
The Court held that cancellation due to non-filing of returns can be reconsidered if the taxpayer complies with Rule 22 requirements. It directed authorities to examine restoration upon payment of dues.
The Court upheld rejection of condonation where delay exceeded 365 days under CBDT Circular. It clarified that Commissioners lack authority beyond this limit but relief may be sought from CBDT.
ITAT held that delay in submitting Form 10B is procedural and can be condoned. It directed reconsideration of exemption where the audit report was filed during appellate proceedings.
International workers from non-SSA countries cannot withdraw PF on exit. The article explains why age 58 remains the key condition for withdrawal under Indian law.
Personal hearings under GST are often reduced to one-sided submissions without real engagement. The article highlights how this undermines natural justice and calls for meaningful adjudication.
The concept of a Lower Deduction Certificate (LDC) continues under the Income-tax Act, 2025 with no major policy change from the Income-tax Act, 1961. Under Section 395 of the new Act (corresponding to Section 197 of the old Act), a taxpayer can apply to the Assessing Officer for deduction of tax at a lower rate […]
The new Act consolidates TDS provisions into a single section for clarity. Despite structural changes, rates and thresholds remain largely unchanged.
