Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
The Appellate Tribunal considered the imposition of penalty u/s 272A(1)(d) for non-compliance with a notice u/s 142(1). The assessee eventually responded to the notice and provided the required documents, with a valid reason for the delay. The Assessing Officer accepted the income return after examining the documents. The Tribunal found a reasonable cause for the initial failure to respond and decided to delete the penalty u/s 272A(1)(d). Consequently, the assessee's appeal was allowed.
The Appellate Tribunal considered the imposition of penalty u/s 272A(1)(d) for non-compliance with a notice u/s 142(1). The assessee eventually responded to the notice and provided the required documents, with a valid reason for the delay. The Assessing Officer accepted the income return after examining the documents. The Tribunal found a reasonable cause for the initial failure to respond and decided to delete the penalty u/s 272A(1)(d). Consequently, the assessee's appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
