Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
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Complaint filed u/s 276CC for non-filing of returns. Assessee argued no taxable income and department accepted it. Proviso B of Section 276CC exempts prosecution if tax payable after regular assessment does not exceed Rs. 3,000/-. Principal Commissioner clarified this exemption applies only when regular assessment is framed, which was not done in this case. Court followed Anil Kumar Sinha vs. Union of India and CIT vs. Kerala Chemicals and Proteins Limited judgments, holding assessee does not fall under regular assessment to get exemption under proviso to Section 276CC. Trial already commenced, complainant examined, cross-examination deferred at petitioner's request. Not a fit case for quashing, petitioner to face trial and put forth defense.
Complaint filed u/s 276CC for non-filing of returns. Assessee argued no taxable income and department accepted it. Proviso B of Section 276CC exempts prosecution if tax payable after regular assessment does not exceed Rs. 3,000/-. Principal Commissioner clarified this exemption applies only when regular assessment is framed, which was not done in this case. Court followed Anil Kumar Sinha vs. Union of India and CIT vs. Kerala Chemicals and Proteins Limited judgments, holding assessee does not fall under regular assessment to get exemption under proviso to Section 276CC. Trial already commenced, complainant examined, cross-examination deferred at petitioner's request. Not a fit case for quashing, petitioner to face trial and put forth defense.
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