Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
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.
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