Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily disclosed and paid tax on income during reassessment proceedings - Following jurisdictional High Court decisions, if assessee files correct income during reassessment and disclosure is accepted without adjustment, no penalty u/s 271(1)(c) is leviable - Decided in favor of assessee.
Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily disclosed and paid tax on income during reassessment proceedings - Following jurisdictional High Court decisions, if assessee files correct income during reassessment and disclosure is accepted without adjustment, no penalty u/s 271(1)(c) is leviable - Decided in favor of assessee.
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