Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
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Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Specific and unambiguous charges are required in penalty proceedings under section 271(1)(c). The note explains that a penalty notice must clearly identify whether the allegation concerns concealment of income or furnishing inaccurate particulars; an Assessing Officer cannot initiate proceedings on one limb and impose penalty on the other. Where the notice lacks a definite charge or the penalty order changes the stated basis, the notice and consequential penalty are unsustainable. On the facts described, the penalty order was quashed and the merits of the penalty were not examined.
Specific and unambiguous charges are required in penalty proceedings under section 271(1)(c). The note explains that a penalty notice must clearly identify whether the allegation concerns concealment of income or furnishing inaccurate particulars; an Assessing Officer cannot initiate proceedings on one limb and impose penalty on the other. Where the notice lacks a definite charge or the penalty order changes the stated basis, the notice and consequential penalty are unsustainable. On the facts described, the penalty order was quashed and the merits of the penalty were not examined.
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