Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Penalty under section 271AAB requires undisclosed income as exhaustively defined in its Explanation; a surrender made during a search does not alone establish that statutory character. Land and other advances represent application or outflow of funds rather than an unrecorded income inflow, and deeming provisions for unexplained investments cannot be automatically applied to this self-contained penal provision. Uncorroborated diary notings without verifiable particulars cannot independently prove real transactions or undisclosed income. As the amount was accepted as current-year business income without a requisite finding of undisclosed income, deletion of the penalty on the surrendered advances was sustained.
Penalty under section 271AAB requires undisclosed income as exhaustively defined in its Explanation; a surrender made during a search does not alone establish that statutory character. Land and other advances represent application or outflow of funds rather than an unrecorded income inflow, and deeming provisions for unexplained investments cannot be automatically applied to this self-contained penal provision. Uncorroborated diary notings without verifiable particulars cannot independently prove real transactions or undisclosed income. As the amount was accepted as current-year business income without a requisite finding of undisclosed income, deletion of the penalty on the surrendered advances was sustained.
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