Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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Levy of penalty u/ss 271D and 271E was challenged - default u/ss 269SS and 269T - assessee received and repaid cash loans from directors and related concerns - assessee contended cash was received to meet urgent expenses at project site when funds were unavailable - argument that cash loans from directors were exempt from sections 269SS and 269T rejected as no such exception exists in statute - limitation argument rejected as proceedings completed within statutory limit - delay due to COVID-19 pandemic excluded - penalty levy inappropriate given assessee's business requiring frequent expenditure at distant project site and possibility of cash loans from directors due to exigency - appeals allowed by deleting penalties.
Levy of penalty u/ss 271D and 271E was challenged - default u/ss 269SS and 269T - assessee received and repaid cash loans from directors and related concerns - assessee contended cash was received to meet urgent expenses at project site when funds were unavailable - argument that cash loans from directors were exempt from sections 269SS and 269T rejected as no such exception exists in statute - limitation argument rejected as proceedings completed within statutory limit - delay due to COVID-19 pandemic excluded - penalty levy inappropriate given assessee's business requiring frequent expenditure at distant project site and possibility of cash loans from directors due to exigency - appeals allowed by deleting penalties.
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