Penalty under section 271(1)(c) deleted where income was disclosed in section 153A returns and remaining additions were only estimated or computationa...
Extended limitation was unavailable because the disputes arose from interpretational issues, the contracts were public projects reflected in the records, and there was no cogent material showing suppression or intent to evade; demands beyond the normal period were therefore time-barred. Works contract exemption was allowed for construction of the FCI food grain godown and the Integrated Farmers' Market Complex, as both were public infrastructure projects falling within the relevant exemption entries and not shown to be predominantly commercial. The mobilization advance demand failed because it was a recoverable, interest-bearing contractual accommodation and was also time-barred. Statutory trade licence fees were treated as a regulatory levy, not taxable consideration, and the penalty for suppression was set aside. The appeal succeeded in full.
Extended limitation was unavailable because the disputes arose from interpretational issues, the contracts were public projects reflected in the records, and there was no cogent material showing suppression or intent to evade; demands beyond the normal period were therefore time-barred. Works contract exemption was allowed for construction of the FCI food grain godown and the Integrated Farmers' Market Complex, as both were public infrastructure projects falling within the relevant exemption entries and not shown to be predominantly commercial. The mobilization advance demand failed because it was a recoverable, interest-bearing contractual accommodation and was also time-barred. Statutory trade licence fees were treated as a regulatory levy, not taxable consideration, and the penalty for suppression was set aside. The appeal succeeded in full.
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