Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Penalty u/s 270A for under-reporting income due to misreporting...
Under-reported tuition fees led to penalty u/s 270A. But lack of specificity in notice prevented assessee's response. Following precedent, penalty deleted.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Penalty u/s 270A for under-reporting income due to misreporting tuition fees - penalty notice did not specify subsection or clause, preventing assessee from responding - relying on Shashikant Sukdeo Ambekar case, penalty u/s 270A deleted in favor of assessee as Income Tax Appellate Tribunal could not determine specific provision invoked.
Penalty u/s 270A for under-reporting income due to misreporting tuition fees - penalty notice did not specify subsection or clause, preventing assessee from responding - relying on Shashikant Sukdeo Ambekar case, penalty u/s 270A deleted in favor of assessee as Income Tax Appellate Tribunal could not determine specific provision invoked.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4921 
