Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
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Levy of penalty on the petitioner being double the amount of tax allegedly evaded by the petitioner - No doubt, in circumstances where the gross profit estimated by the revenue authorities is significantly higher than what is conceded by the assessee, and it is apparent that the estimation itself was done in an unscientific manner, it may be open to an assessee to challenge the same inter alia based on the decisions mentioned. On the facts of the instant case, however, Tribunal order is reasonable accepting the additions made by AO - HC
Levy of penalty on the petitioner being double the amount of tax allegedly evaded by the petitioner - No doubt, in circumstances where the gross profit estimated by the revenue authorities is significantly higher than what is conceded by the assessee, and it is apparent that the estimation itself was done in an unscientific manner, it may be open to an assessee to challenge the same inter alia based on the decisions mentioned. On the facts of the instant case, however, Tribunal order is reasonable accepting the additions made by AO - HC
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