Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Levy of penalty u/s 271B - failure to get accounts audited in terms of provisions of section 44AB - Determination of turnover in the context of a share broker's income - The Appellate Tribunal ruled in favor of the assessee, holding that only commission income earned constitutes turnover for a share broker, not the sale consideration of shares. It also rejected the Revenue's argument regarding the proviso to section 44AB. - As a result, the Tribunal directed the deletion of the penalty imposed under section 271B of the Act.
Levy of penalty u/s 271B - failure to get accounts audited in terms of provisions of section 44AB - Determination of turnover in the context of a share broker's income - The Appellate Tribunal ruled in favor of the assessee, holding that only commission income earned constitutes turnover for a share broker, not the sale consideration of shares. It also rejected the Revenue's argument regarding the proviso to section 44AB. - As a result, the Tribunal directed the deletion of the penalty imposed under section 271B of the Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
