Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Penalty under section 271D for alleged acceptance of a cash loan was held unsustainable where the case rested only on a third-party statement recorded in search proceedings and loose papers found at another premises. The assessee consistently denied taking any cash loan, yet the Assessing Officer did not provide the incriminating material, related assessment details, or an opportunity to cross-examine the alleged lender. In the absence of independent corroborative evidence, the allegation was treated as conjecture; loose sheets and random entries were said to have no evidentiary value against a third person unless supported by admissible material and surrounding circumstances. The penalty was deleted.
Penalty under section 271D for alleged acceptance of a cash loan was held unsustainable where the case rested only on a third-party statement recorded in search proceedings and loose papers found at another premises. The assessee consistently denied taking any cash loan, yet the Assessing Officer did not provide the incriminating material, related assessment details, or an opportunity to cross-examine the alleged lender. In the absence of independent corroborative evidence, the allegation was treated as conjecture; loose sheets and random entries were said to have no evidentiary value against a third person unless supported by admissible material and surrounding circumstances. The penalty was deleted.
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