Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
Page of 4803
Press 'Enter' after typing page number.
581 to 600 of 96046 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The Appellate Tribunal found that the penalty was initiated u/s. 271DA instead of u/s. 271D, which led to confusion and violated the assessee's right to a fair hearing. The initiation of penalty under the wrong section was deemed arbitrary and against Article 14 of the Indian Constitution. The defective notice denied the assessee the opportunity to defend effectively. The Tribunal held that strict compliance with Sec. 274 of the Act is necessary for imposing penalties. Regarding the cash transactions exceeding Rs. 20,000, the Tribunal noted that the penalty was not justified as the assessee's explanations were not adequately addressed. The Tribunal also considered that the penalty notice was invalid, rendering the levied penalty unsustainable in law. The appeal by the assessee was allowed, and the penalty levied was ordered to be deleted.
The Appellate Tribunal found that the penalty was initiated u/s. 271DA instead of u/s. 271D, which led to confusion and violated the assessee's right to a fair hearing. The initiation of penalty under the wrong section was deemed arbitrary and against Article 14 of the Indian Constitution. The defective notice denied the assessee the opportunity to defend effectively. The Tribunal held that strict compliance with Sec. 274 of the Act is necessary for imposing penalties. Regarding the cash transactions exceeding Rs. 20,000, the Tribunal noted that the penalty was not justified as the assessee's explanations were not adequately addressed. The Tribunal also considered that the penalty notice was invalid, rendering the levied penalty unsustainable in law. The appeal by the assessee was allowed, and the penalty levied was ordered to be deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
