Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Penalty for alleged cash receipt cannot be imposed without demonstrative evidence establishing the actual cash transaction required for the cash-receipt restriction. Material showed a cash receipt only to a limited extent, while the balance was inferred conjecturally. Because the Revenue did not establish the factual basis for invoking section 269SS, deletion of the section 271D penalty was confirmed and its appeal dismissed.
Penalty for alleged cash receipt cannot be imposed without demonstrative evidence establishing the actual cash transaction required for the cash-receipt restriction. Material showed a cash receipt only to a limited extent, while the balance was inferred conjecturally. Because the Revenue did not establish the factual basis for invoking section 269SS, deletion of the section 271D penalty was confirmed and its appeal dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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