Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Penalty for failure to obtain a tax audit was deleted because the assessee established reasonable cause under section 273B. Materials explained that milk-pouch sales were conducted on a commission or trade-discount basis and identified the related commission income. The lower authorities had not considered this statutory protection, despite reassessment accepting the returned income without any addition. The appeal was allowed and the penalty under section 271B was deleted.
Penalty for failure to obtain a tax audit was deleted because the assessee established reasonable cause under section 273B. Materials explained that milk-pouch sales were conducted on a commission or trade-discount basis and identified the related commission income. The lower authorities had not considered this statutory protection, despite reassessment accepting the returned income without any addition. The appeal was allowed and the penalty under section 271B was deleted.
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