Tax short news


1.
Financial inability to pay pre-deposit is a sufficient cause to seek condonation of delay
Supreme Court
Concept Hydro Pneumatic (P.) Ltd.
v. Commissioner of Central Excise, Bangalore II Commissionerate.
2
NCLT has jurisdiction to compound offences even if prosecution is pending
NATIONAL COMPANY LAW TRIBUNAL, HYDERABAD BENCH
Teamasia Semiconductors (India) Ltd
3.
No denial of section. 11 relief merely due to purchase of property by members out of funds belonging to trust.
Kota
Kendriya Academy
Vidhyalaya Shiksha Samiti v. Assistant Commissioner of Income-tax

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