Monthly Archives: June 2026

Denial of TDS Credit Is Unjustified Once Corresponding Receipts Form 26AS Are Fully Taxed in Reassessment Proceedings Issue Whether an assessee can be denied credit for Tax Deducted at Source (TDS) on technical grounds when the corresponding income/receipts reflected in Form 26AS have been explicitly brought to tax by the Assessing Officer in reassessment proceedings… Read More »

No Disallowance of Interest Under Rule 8D(2)(ii) If Assessee Possesses Sufficient Own Funds To Cover Exempt Income Investments Issue Whether any disallowance of interest expenses can be made under Section 14A of the Income-tax Act, 1961, read with Rule 8D(2)(ii) of the Income-tax Rules, 1962, when the assessee possesses sufficient interest-free own funds (share capital… Read More »

Late PF/ESI Deposit During COVID-19 Involves Debatable Legal Interpretation Beyond Section 143(1) Adjustment Powers Issue Whether the Central Processing Centre (CPC) was justified in making a prima facie adjustment under Section 143(1), and subsequently rejecting a Section 154 rectification application, to disallow employees’ PF and ESI contributions deposited after the due date under respective labor… Read More »