Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Levy of penalty u/s 270A r.w.s. 274 - misreporting of income on the addition of leave encashment - levy of penalty is not automatic on mere making addition, if the assessee has explained his bonafide belief about deduction of exemption of any component of income, no penalty is leviable on such component of income. Hence, no penalty u/s 270A is leviable on the addition of leave encashment. - AT
Levy of penalty u/s 270A r.w.s. 274 - misreporting of income on the addition of leave encashment - levy of penalty is not automatic on mere making addition, if the assessee has explained his bonafide belief about deduction of exemption of any component of income, no penalty is leviable on such component of income. Hence, no penalty u/s 270A is leviable on the addition of leave encashment. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
