Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Levy of interest and penalty - In the instant case, in view of the discussions, with the consent and concurrence of both the parties, instead of remanding it back, Rule 41 of the CESTAT (Procedure) Rule, 1982 should be invoked in, putting an end to the litigation that commenced way back in the early 1990’s only for the purpose of re-computation for the normal period when from the evidence on record it is quite evident that appellant had already paid Rs.3,50,000/- during investigation which is much higher than the entire demand raised for the normal period that would also meet the interest component. - AT
Levy of interest and penalty - In the instant case, in view of the discussions, with the consent and concurrence of both the parties, instead of remanding it back, Rule 41 of the CESTAT (Procedure) Rule, 1982 should be invoked in, putting an end to the litigation that commenced way back in the early 1990’s only for the purpose of re-computation for the normal period when from the evidence on record it is quite evident that appellant had already paid Rs.3,50,000/- during investigation which is much higher than the entire demand raised for the normal period that would also meet the interest component. - AT
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