Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
Penalty u/s 271B - transactions requiring audit report u/s. 44AB - There is further no dispute that neither the assessee had got prepared his audit report nor the same had been furnished well within time to the assessing authority; as the case may be. We therefore hold that mere ignorance of law pleaded herein at the assessee's behest hardly deserves to be treated as a reasonable cause - Levy of penalty confirmed - AT
Penalty u/s 271B - transactions requiring audit report u/s. 44AB - There is further no dispute that neither the assessee had got prepared his audit report nor the same had been furnished well within time to the assessing authority; as the case may be. We therefore hold that mere ignorance of law pleaded herein at the assessee's behest hardly deserves to be treated as a reasonable cause - Levy of penalty confirmed - AT
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