Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Levy of penalty u/s 271(1)(c) - claim of incorrect deduction u/s 80GGA - The Appellate Tribunal analyzed the timeline of events and noted that the assessee had voluntarily offered the disputed deductions for taxation before the initiation of reassessment proceedings. It was observed that the assessee had withdrawn the claims of deductions and paid the necessary taxes well before the notice under section 148 of the Act was issued. The Tribunal found no basis in the findings of the lower authorities that there was concealment of income on the part of the assessee. Consequently, the Tribunal found no justification for the imposition of penalties u/s 271(1)(c) of the Act and proceeded to delete the penalties for both assessment years.
Levy of penalty u/s 271(1)(c) - claim of incorrect deduction u/s 80GGA - The Appellate Tribunal analyzed the timeline of events and noted that the assessee had voluntarily offered the disputed deductions for taxation before the initiation of reassessment proceedings. It was observed that the assessee had withdrawn the claims of deductions and paid the necessary taxes well before the notice under section 148 of the Act was issued. The Tribunal found no basis in the findings of the lower authorities that there was concealment of income on the part of the assessee. Consequently, the Tribunal found no justification for the imposition of penalties u/s 271(1)(c) of the Act and proceeded to delete the penalties for both assessment years.
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