Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Penalty for false invoice - Section 55(2) AP VAT Act states that any VAT dealer, who issues a false tax invoice or receives and uses a tax invoice, knowing it to be false, shall be liable to pay a penalty of 200 per cent of tax shown on the false invoice - the contention that so long as the invoices are found to be false, there can be no tax liability and consequently there can be no liability to pay penalty, does not hold good
Penalty for false invoice - Section 55(2) AP VAT Act states that any VAT dealer, who issues a false tax invoice or receives and uses a tax invoice, knowing it to be false, shall be liable to pay a penalty of 200 per cent of tax shown on the false invoice - the contention that so long as the invoices are found to be false, there can be no tax liability and consequently there can be no liability to pay penalty, does not hold good
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
