Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
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The Delhi High Court analyzed the levy of penalty u/s 270A for under-reporting and misreporting of income. The court emphasized that under-reporting and misreporting are distinct offenses. The assessment orders lacked specifics on the alleged transgressions, rendering penalty proceedings unjustified. The court criticized the vague Show Cause Notices (SCNs) for failing to specify under-reporting or misreporting charges, violating legal principles. The court ruled that immunity u/s 270AA cannot be denied without clear misreporting findings. Since the petitioner met the statutory requirements for immunity, the rejection of the application was deemed unsustainable. The court quashed the orders rejecting the immunity application, finding them legally unsound.
The Delhi High Court analyzed the levy of penalty u/s 270A for under-reporting and misreporting of income. The court emphasized that under-reporting and misreporting are distinct offenses. The assessment orders lacked specifics on the alleged transgressions, rendering penalty proceedings unjustified. The court criticized the vague Show Cause Notices (SCNs) for failing to specify under-reporting or misreporting charges, violating legal principles. The court ruled that immunity u/s 270AA cannot be denied without clear misreporting findings. Since the petitioner met the statutory requirements for immunity, the rejection of the application was deemed unsustainable. The court quashed the orders rejecting the immunity application, finding them legally unsound.
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