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    August 6, 2026   Case Laws Income Tax
    Depreciation option claims with full disclosure and bona fide revision do not establish inaccurate income particulars for penalty.
    August 6, 2026   Case Laws Income Tax
    International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability governs software service margins.
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    August 6, 2026   Case Laws Income Tax
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    August 6, 2026   Case Laws Customs
    SAFTA certificate of origin benefit survived compelled relinquishment, invalidating reassessment, duty demand, confiscation and penalties for imported ship-breaking material.
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    August 6, 2026   Case Laws Customs
    Related-party customs valuation requires deductive redetermination where undisclosed funding discounts undermine the declared transaction value.
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    Packaged software treated as goods excludes deemed sales from service tax, while late return filing fees remain payable.
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    August 6, 2026   Case Laws Central Excise
    Natural gas compression solely for transport, followed by decompression before sale, does not constitute manufacture of compressed natural gas.

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      Income Tax

      AO did not record his satisfaction for initiation of penalty...

      AO's Failure to Record Satisfaction Invalidates Penalty Proceedings u/s 271(1)(c) for Inaccurate Income Reporting.

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      Income TaxDecember 5, 2017Case LawsAT
      AO did not record his satisfaction for initiation of penalty proceedings, because while passing the assessment order passed u/s. 143(3)(ii), the AO has stated that “….. Penalty proceedings u/s. 271(1)(c)is being initiated separately for furnishing inaccurate particulars of income / concealment income……………….”, which is not sufficient - AT
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