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Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Penalty for under-reporting under section 270A was inapplicable where lease-rental disallowance for non-deduction of tax at source arose from a bona fide, debatable interpretation of GNOIDA's status as a Government body. The taxpayer had disclosed the material facts, and neither the Assessing Officer nor the Commissioner (Appeals) found the explanation to lack bona fides. Confirmation of the underlying disallowance alone did not establish under-reporting for penalty purposes. The penalty was therefore deleted, applying the principle that an unsuccessful claim does not by itself justify penalty where the explanation is bona fide and fully disclosed.
Penalty for under-reporting under section 270A was inapplicable where lease-rental disallowance for non-deduction of tax at source arose from a bona fide, debatable interpretation of GNOIDA's status as a Government body. The taxpayer had disclosed the material facts, and neither the Assessing Officer nor the Commissioner (Appeals) found the explanation to lack bona fides. Confirmation of the underlying disallowance alone did not establish under-reporting for penalty purposes. The penalty was therefore deleted, applying the principle that an unsuccessful claim does not by itself justify penalty where the explanation is bona fide and fully disclosed.
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