Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
A typographical discrepancy between e-way bill particulars and tax invoices, where goods otherwise correspond with the e-way bill and transport documents, is treated as a human error when it provides no benefit and does not indicate tax avoidance. The notes state that such a minor inadvertent mistake, without intent to deceive the Revenue or financial implications, should attract only the minor penalty under clause 5 of the circular dated 14 September 2018, rather than detention and penalty action under Section 129. The Section 129 penalty order was quashed, with refund of the deposited amount after deduction of the applicable minor penalty.
A typographical discrepancy between e-way bill particulars and tax invoices, where goods otherwise correspond with the e-way bill and transport documents, is treated as a human error when it provides no benefit and does not indicate tax avoidance. The notes state that such a minor inadvertent mistake, without intent to deceive the Revenue or financial implications, should attract only the minor penalty under clause 5 of the circular dated 14 September 2018, rather than detention and penalty action under Section 129. The Section 129 penalty order was quashed, with refund of the deposited amount after deduction of the applicable minor penalty.
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