Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Penalty u/s 271(1)(c) - Failure to file the Return of Income (ITR) - The appellate tribunal addressed two appeals filed by the assessee against penalties imposed under section 271(1)(c) of the Income Tax Act for the assessment years 2011-12 and 2015-16. In the case of the former, the penalty was upheld, despite the appellant's argument of being a non-resident with limited knowledge of Indian tax laws. However, for the latter assessment year, the tribunal ruled in favor of the assessee, citing a similar precedent and considering the appellant's circumstances. The decision emphasized the importance of timely compliance with tax obligations and the relevance of the appellant's awareness of their tax liabilities.
Penalty u/s 271(1)(c) - Failure to file the Return of Income (ITR) - The appellate tribunal addressed two appeals filed by the assessee against penalties imposed under section 271(1)(c) of the Income Tax Act for the assessment years 2011-12 and 2015-16. In the case of the former, the penalty was upheld, despite the appellant's argument of being a non-resident with limited knowledge of Indian tax laws. However, for the latter assessment year, the tribunal ruled in favor of the assessee, citing a similar precedent and considering the appellant's circumstances. The decision emphasized the importance of timely compliance with tax obligations and the relevance of the appellant's awareness of their tax liabilities.
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