Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Penalty u/s 272A (2) (k) - assessee has failed to submit the quarterly TDS statements in Form No. 26Q - The reasonable cause of ignorance of technical knowledge lack of infrastructure and the first time default on the part of the assessee was accepted by the Tribunal as a reasonable cause. The provisions of section 273B provides that no penalty shall be imposable on a person or the assessee inter alia u/s 272A (2) for any failure if he explain that there was a reasonable cause for such failure. - AT
Penalty u/s 272A (2) (k) - assessee has failed to submit the quarterly TDS statements in Form No. 26Q - The reasonable cause of ignorance of technical knowledge lack of infrastructure and the first time default on the part of the assessee was accepted by the Tribunal as a reasonable cause. The provisions of section 273B provides that no penalty shall be imposable on a person or the assessee inter alia u/s 272A (2) for any failure if he explain that there was a reasonable cause for such failure. - AT
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