Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
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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.
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