Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
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Acceptance or repayment of loans through journal entries was treated as a violation of the statutory requirement to use recognised banking modes, attracting exposure to penalty under sections 271D and 271E. The Tribunal held that immunity under section 273B is available only where the assessee proves reasonable cause, and on the facts no compelling business necessity, unavoidable circumstance, or contemporaneous material was shown to justify bypassing normal banking channels. Mere assertions of bona fides, genuineness, or convenience were found insufficient. The penalties were therefore upheld and the appeals were dismissed.
Acceptance or repayment of loans through journal entries was treated as a violation of the statutory requirement to use recognised banking modes, attracting exposure to penalty under sections 271D and 271E. The Tribunal held that immunity under section 273B is available only where the assessee proves reasonable cause, and on the facts no compelling business necessity, unavoidable circumstance, or contemporaneous material was shown to justify bypassing normal banking channels. Mere assertions of bona fides, genuineness, or convenience were found insufficient. The penalties were therefore upheld and the appeals were dismissed.
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