Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
Scientific research institution approval is conditional on SIRO recognition, annual donation reporting, donor certification, and prescribed compliance...
Penalty u/s 271(1)(c) - additional income offered by assessee by way of LTCG in revised return - it is not in dispute that the assessee filed revised return before issuing notice under section 143(2) of the Act. The assessee has also paid due tax along with interest thereon. In our view, the assessee has shown reasonable cause within the meaning of section 273B and no penalty was leviable in the facts and circumstances of the present case. - AT
Penalty u/s 271(1)(c) - additional income offered by assessee by way of LTCG in revised return - it is not in dispute that the assessee filed revised return before issuing notice under section 143(2) of the Act. The assessee has also paid due tax along with interest thereon. In our view, the assessee has shown reasonable cause within the meaning of section 273B and no penalty was leviable in the facts and circumstances of the present case. - AT
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TaxTMI 
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