PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Penalty u/s. 271(1)(c) - assessee had wrongly shown the rental income as 'business income' - Even the pertinent fact on the file is that in the immediate preceding assessment year, the assessee had offered the same income as income from business and which was accepted by the AO under scrutiny assessment proceedings. Under the circumstances for the assessment year under consideration, the assessee can safely be said to be having bonafide belief for offering the same under the same head i.e. 'income from business or profession'. - No penalty - AT
Penalty u/s. 271(1)(c) - assessee had wrongly shown the rental income as 'business income' - Even the pertinent fact on the file is that in the immediate preceding assessment year, the assessee had offered the same income as income from business and which was accepted by the AO under scrutiny assessment proceedings. Under the circumstances for the assessment year under consideration, the assessee can safely be said to be having bonafide belief for offering the same under the same head i.e. 'income from business or profession'. - No penalty - AT
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