Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
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...
Penalty under section 271D for contravention of section 269SS cannot survive where the underlying assessment is quashed and the satisfaction recorded in that assessment is obliterated. The principle applied to section 271E in Jai Laxmi Rice Mills Ambala City extends to section 271D because the provisions are pari materia. Further, where the Assessing Officer records satisfaction to initiate penalty in the assessment order, limitation under section 275(1)(c) runs from that initiation, not from a later notice or initiation by the Additional Commissioner or Joint Commissioner. The penalty was therefore unsustainable on both merits and limitation.
Penalty under section 271D for contravention of section 269SS cannot survive where the underlying assessment is quashed and the satisfaction recorded in that assessment is obliterated. The principle applied to section 271E in Jai Laxmi Rice Mills Ambala City extends to section 271D because the provisions are pari materia. Further, where the Assessing Officer records satisfaction to initiate penalty in the assessment order, limitation under section 275(1)(c) runs from that initiation, not from a later notice or initiation by the Additional Commissioner or Joint Commissioner. The penalty was therefore unsustainable on both merits and limitation.
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