Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
The Appellate Tribunal considered a case involving the levy of penalty u/s 272A(1)(d) for non-compliance with a notice u/s 142(1) due to the Accountant's Covid-19 illness. The unproved sundry creditors were brought to tax u/s 69A r.w.s. 115BBE(1). The Tribunal held that the assessee responded to the final show cause notice during faceless assessment proceedings, explaining the delay due to the Accountant's illness. The new Accountant collected information and submitted it to the assessing officer. The Tribunal found reasonable cause for non-compliance with statutory notices u/s 142(1) and deemed the subsequent penalty unjustified. Considering the transition to digital assessment proceedings, the delay in compliance was deemed bona fide. Therefore, the penalty u/s 272A(1)(d) was deleted, and the assessee's appeal was allowed.
The Appellate Tribunal considered a case involving the levy of penalty u/s 272A(1)(d) for non-compliance with a notice u/s 142(1) due to the Accountant's Covid-19 illness. The unproved sundry creditors were brought to tax u/s 69A r.w.s. 115BBE(1). The Tribunal held that the assessee responded to the final show cause notice during faceless assessment proceedings, explaining the delay due to the Accountant's illness. The new Accountant collected information and submitted it to the assessing officer. The Tribunal found reasonable cause for non-compliance with statutory notices u/s 142(1) and deemed the subsequent penalty unjustified. Considering the transition to digital assessment proceedings, the delay in compliance was deemed bona fide. Therefore, the penalty u/s 272A(1)(d) was deleted, and the assessee's appeal was allowed.
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