Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Penalty levied u/s. 271B - Defective notice - vague and unspecific notice - failure to furnish the audit report u/s 44AB before the due date - Notice proposing penalty should clearly spell out the fault/charge for which the assessee is put on notice, so that he can defend the charge properly. - Further, the explanation given by the assessee cannot be held to be unreasonable. - No penalty since the delay in getting accounts of the earlier year can be reasonable ground as stipulated u/s. 273B
Penalty levied u/s. 271B - Defective notice - vague and unspecific notice - failure to furnish the audit report u/s 44AB before the due date - Notice proposing penalty should clearly spell out the fault/charge for which the assessee is put on notice, so that he can defend the charge properly. - Further, the explanation given by the assessee cannot be held to be unreasonable. - No penalty since the delay in getting accounts of the earlier year can be reasonable ground as stipulated u/s. 273B
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