Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Penalty levied u/s 270A - misreporting of income un/s 270A(8) and 270A(9) or not - Assessee filed the ITR after search conducted on third party but before the due date of filing of ITR - Since the return of income was not due as on the date of search carried out on 10.08.2016 and the accounting year was not ended also therefore the books of accounts were not up-dated. Therefore, the assessee's case does not fall under the category of misreporting of income. - No penalty - HC
Penalty levied u/s 270A - misreporting of income un/s 270A(8) and 270A(9) or not - Assessee filed the ITR after search conducted on third party but before the due date of filing of ITR - Since the return of income was not due as on the date of search carried out on 10.08.2016 and the accounting year was not ended also therefore the books of accounts were not up-dated. Therefore, the assessee's case does not fall under the category of misreporting of income. - No penalty - HC
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