Validity of Settlement commission order - The settlement was ...

Settlement Order Upheld: Revenue's Late Technical Objections Rejected Due to Mutual Benefit and Finality.

October 14, 2020

Case Laws Income Tax HC

Validity of Settlement commission order - The settlement was mutually beneficial and acceptable. The money stood accepted without any protest or demur. As such, at a belated stage in the year 2020, more so, after a period of one year from the settlement, Revenue cannot be allowed to raise pleas, technical in nature, particularly when matter stood conclusively decided and concluded even at the end of Revenue. - HC

View Source

← Previous Next →

Validity of Settlement commission order - The settlement was ...

Settlement Order Upheld: Revenue's Late Technical Objections Rejected Due to Mutual Benefit and Finality.

October 14, 2020

Case Laws Income Tax HC

You may also like:

Assessee allowed to opt for concessional tax rate u/s 115BAC(5)(i) for AY 2023-24 based on Form 10IE submitted late for previous AY, subject to fulfilling other legal...

Levy of late filing fee u/s. 234E - Due to certain technical error committed (incorrect interchanging of PAN numbers of buyer and seller in online filing of Statement...

The ITAT rejected the Revenue's appeal concerning disallowance of exemption under s.10(23C)(vi). The Tribunal accepted the assessee's contention that the AO failed to...

HC overturned revenue authority's rejection of delay condonation for late audit report filing. The delay of 1 hour, 19 minutes, and 16 seconds occurred due to technical...

Benefit of Reduction of late fee in case of delayed filing of FORM GSTR-5A withdrawn.

Rectification of mistake u/s 154 - AO issued notice u/s 154 based on audit objections, adding waiver of principal amount and revising book profit. Tribunal dismissed...

Levy late fee u/s 234E - intimation u/s 200A - late fee imposed prior to 01.06.2015 - Section 234E of the Act by itself creates a liability and the liability to pay the...

Legal clarification issued by tax authorities regarding late fee applicability for delayed submission of FORM GSTR-9C. The circular establishes that late fees under...

Denial of benefit u/s 115BAA - while filing its return of income as it was unable to upload Form 10-IC due to technical glitches - Scope of CBDT circular - Despite the...

Demand of late fee u/s 47(1) of the CGST / SGST Act - delay in filing of returns - Amnesty Scheme - GST portal does not support payment of late fee for late filing...

Levy of penalty u/s 234E - delay of 484 days in filling Form No. 26Q (TDS Return) - technical glitches on the part of the system - The ITAT allowed the appeals, focusing...

Disallowance of royalty - capital OR revenue expenditure - The ownership/ proprietary rights in the technical know-how continue to vest in lithe censor and the assessee...

Redemption of units of mutual funds - capital gain or business income - the intention for purchase of mutual funds was only for the purpose of investment and held for...

Validity of Cross Objection (CO) filed by the Revenue - the revenue is trying to achieve its objectives, which could not be achieved by it directly - Further, in the...

The Appellate Tribunal considered two main issues: 1. Addition u/s 37(1) - Assessee incurred business loss due to default in property payment, allowed as revenue loss. 2....

Quick Updates: