Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Belated furnishing of a tax audit report is described as a technical or venial breach where the report was already available to, and considered by, the Assessing Officer before reassessment was completed. The note states that, where reassessment took account of the report and no addition was made, the delayed filing did not warrant penalty under section 271B. It records that the penalty was deleted because the procedural lapse did not affect the reassessment process.
Belated furnishing of a tax audit report is described as a technical or venial breach where the report was already available to, and considered by, the Assessing Officer before reassessment was completed. The note states that, where reassessment took account of the report and no addition was made, the delayed filing did not warrant penalty under section 271B. It records that the penalty was deleted because the procedural lapse did not affect the reassessment process.
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