Faceless assessment and registration procedures are updated through electronic communication, revised recovery rules, extended deadlines, and replacem...
Risk-based selective vessel boarding requires accurate declarations and preserves master and agent liability where physical inspections are not select...
Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Failure to file a return despite taxable income can constitute under-reporting under section 270A where no original return is furnished and assessed income exceeds the maximum amount not chargeable to tax. The note explains that section 270A is triggered by objective statutory conditions rather than concealment or intent to evade tax. Income disclosed in response to a reassessment notice and accepted without further addition does not cure the initial filing default. Availability of income details through tax deduction at source also does not remove the return-filing obligation. As no exclusion under section 270A(6) was established, penalty under section 270A(7) was sustained.
Failure to file a return despite taxable income can constitute under-reporting under section 270A where no original return is furnished and assessed income exceeds the maximum amount not chargeable to tax. The note explains that section 270A is triggered by objective statutory conditions rather than concealment or intent to evade tax. Income disclosed in response to a reassessment notice and accepted without further addition does not cure the initial filing default. Availability of income details through tax deduction at source also does not remove the return-filing obligation. As no exclusion under section 270A(6) was established, penalty under section 270A(7) was sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
