Institutional client call-recording exemption lets research analysts retain alternative verifiable interaction records while maintaining broader clien...
Article 21 safeguards against punitive money-laundering detention when trial delay makes continued custody constitutionally disproportionate despite s...
Penalty notices for under-reporting and search-related penalties must specify the statutory circumstance or clause invoked, since a generic allegation does not disclose the precise charge or provide a reasonable opportunity to respond. Identifying the clause only in the final penalty order does not cure a defective initiation. Cash expenditure recorded in contemporaneous informal books during an unclosed financial year, later entered in regular books and reflected in an accepted return, does not constitute undisclosed income merely because it was absent from regular books on the search date or admitted in a search statement. On these grounds, the penalties for both assessment years were deleted.
Penalty notices for under-reporting and search-related penalties must specify the statutory circumstance or clause invoked, since a generic allegation does not disclose the precise charge or provide a reasonable opportunity to respond. Identifying the clause only in the final penalty order does not cure a defective initiation. Cash expenditure recorded in contemporaneous informal books during an unclosed financial year, later entered in regular books and reflected in an accepted return, does not constitute undisclosed income merely because it was absent from regular books on the search date or admitted in a search statement. On these grounds, the penalties for both assessment years were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
