Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Penalty for cash receipts under section 271DA requires proof that the assessee received cash in breach of section 269ST. Where the underlying quantum addition was deleted because the alleged transaction involved other parties and not the assessee, no factual basis remained for a consequential penalty; deletion of the penalty was therefore upheld. The presumptions under sections 132(4A) and 292C apply against the person from whose possession or control seized material is found. A WhatsApp screenshot recovered from another entity's premises, without the assessee's name or admission of cash receipt, could not support a presumption against the assessee. The Revenue's appeal was dismissed.
Penalty for cash receipts under section 271DA requires proof that the assessee received cash in breach of section 269ST. Where the underlying quantum addition was deleted because the alleged transaction involved other parties and not the assessee, no factual basis remained for a consequential penalty; deletion of the penalty was therefore upheld. The presumptions under sections 132(4A) and 292C apply against the person from whose possession or control seized material is found. A WhatsApp screenshot recovered from another entity's premises, without the assessee's name or admission of cash receipt, could not support a presumption against the assessee. The Revenue's appeal was dismissed.
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