Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Penalty u/s. 272A(2)(k) - Assessee had not offered any reasonable cause for delay in filing of TDS statements u/s. 200(3) - The default committed by the assessee is only a minor technical and venial breach. As settled law that no penalty could be levied on an assessee for a mere technical venial breach, more especially when there is no loss caused to the exchequer due to such breach. - AT
Penalty u/s. 272A(2)(k) - Assessee had not offered any reasonable cause for delay in filing of TDS statements u/s. 200(3) - The default committed by the assessee is only a minor technical and venial breach. As settled law that no penalty could be levied on an assessee for a mere technical venial breach, more especially when there is no loss caused to the exchequer due to such breach. - AT
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