Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Penalty u/s 272A(2)(k) - assessee did not file its quarterly TDS returns within the prescribed time limit and there was a delay - In the given case, the assessee did not assess the liability under TDS provisions and subsequent to the survey, he blindly followed the instructions of the officers and remitted the liability in cash through SBI without taking any details of determination of liability. - Subsequently, the assessee could not comply with the filing of quarterly returns and made to pay the same amount again. The above situation clearly proves the reasonable cause. - AT
Penalty u/s 272A(2)(k) - assessee did not file its quarterly TDS returns within the prescribed time limit and there was a delay - In the given case, the assessee did not assess the liability under TDS provisions and subsequent to the survey, he blindly followed the instructions of the officers and remitted the liability in cash through SBI without taking any details of determination of liability. - Subsequently, the assessee could not comply with the filing of quarterly returns and made to pay the same amount again. The above situation clearly proves the reasonable cause. - AT
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