Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
Levy of penalty u/s 271(1)(c) - Denial of exemption of capital gains u/s 10(38) on account of sale of shares - The Tribunal also emphasized that the Revenue had failed to provide an opportunity for cross-examination to the assessee, which was a violation of the principles of natural justice. It noted judgments that stressed the importance of allowing the assessee to rebut any adverse evidence. The Tribunal concluded that in the absence of the quantum addition, the penalty under Section 271(1)(c) could not stand.
Levy of penalty u/s 271(1)(c) - Denial of exemption of capital gains u/s 10(38) on account of sale of shares - The Tribunal also emphasized that the Revenue had failed to provide an opportunity for cross-examination to the assessee, which was a violation of the principles of natural justice. It noted judgments that stressed the importance of allowing the assessee to rebut any adverse evidence. The Tribunal concluded that in the absence of the quantum addition, the penalty under Section 271(1)(c) could not stand.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
