Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Penalty imposed u/s 271B for non-compliance with section 44AB audit report filing. Assessee failed to prove attending litigations or financial difficulties. Assessee filed audit reports for multiple years except one, indicating awareness of legal obligations. Lack of reasonable cause for non-compliance. Penalty upheld by Appellate Tribunal, dismissing assessee's appeal.
Penalty imposed u/s 271B for non-compliance with section 44AB audit report filing. Assessee failed to prove attending litigations or financial difficulties. Assessee filed audit reports for multiple years except one, indicating awareness of legal obligations. Lack of reasonable cause for non-compliance. Penalty upheld by Appellate Tribunal, dismissing assessee's appeal.
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