Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Levy of penalty u/s 272A(1)(d) - The bonafide or other wise malafide of non compliance is also required to be kept in mind. The tax and interest are statutory levies, while penalty imposable u/s 272A(1)(d) is subject to Section 273B. Thus, if the taxpayer is able to demonstrate reasonable cause for failure then no penalty is exigible. If in each case for failure to comply with statutory notices issued by the authorities , the penalty is mandatorily to be imposed u/s 272A(1)(d) on the tax-payers, Section 273B will become otiose - AT
Levy of penalty u/s 272A(1)(d) - The bonafide or other wise malafide of non compliance is also required to be kept in mind. The tax and interest are statutory levies, while penalty imposable u/s 272A(1)(d) is subject to Section 273B. Thus, if the taxpayer is able to demonstrate reasonable cause for failure then no penalty is exigible. If in each case for failure to comply with statutory notices issued by the authorities , the penalty is mandatorily to be imposed u/s 272A(1)(d) on the tax-payers, Section 273B will become otiose - AT
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