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...
Levy of penalty u/s 271B - default u/s 44AB - failure to get accounts get audited - Contradictory stand of the appellant when he contended that due to seizure of books by the sales tax authorities, audit of accounts under Section 44AB of the Act got delayed. Additionally, Tribunal held that appellant did not file the income tax return voluntarily but it was in response to a notice under Section 148 of the Act. - Penalty confirmed - HC
Levy of penalty u/s 271B - default u/s 44AB - failure to get accounts get audited - Contradictory stand of the appellant when he contended that due to seizure of books by the sales tax authorities, audit of accounts under Section 44AB of the Act got delayed. Additionally, Tribunal held that appellant did not file the income tax return voluntarily but it was in response to a notice under Section 148 of the Act. - Penalty confirmed - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4789
Join Channel
TaxTMI 
