Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
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The key points are regarding the penalty imposed u/s 271D read with Section 269SS, and the issue of whether the penalty orders were time-barred. The Assessing Officer made a recommendation for initiating penalty on 08/12/2017. According to Section 275(1)(c), the first condition is that the financial year in which the penalty proceedings were initiated should have expired on 31/03/2018. The second condition is that six months from the end of the month in which the action for penalty imposition was initiated should have expired on 30/06/2018. However, the Additional Commissioner of Income Tax (Appeals) initiated the penalty on 07/07/2018, despite the recommendation being made on 08/12/2017. Therefore, the penalty orders are barred by the limitation period prescribed u/s 275(1)(c) of the Income Tax Act. Consequently, the orders imposing penalty were deleted, and the decision was against the revenue authorities.
The key points are regarding the penalty imposed u/s 271D read with Section 269SS, and the issue of whether the penalty orders were time-barred. The Assessing Officer made a recommendation for initiating penalty on 08/12/2017. According to Section 275(1)(c), the first condition is that the financial year in which the penalty proceedings were initiated should have expired on 31/03/2018. The second condition is that six months from the end of the month in which the action for penalty imposition was initiated should have expired on 30/06/2018. However, the Additional Commissioner of Income Tax (Appeals) initiated the penalty on 07/07/2018, despite the recommendation being made on 08/12/2017. Therefore, the penalty orders are barred by the limitation period prescribed u/s 275(1)(c) of the Income Tax Act. Consequently, the orders imposing penalty were deleted, and the decision was against the revenue authorities.
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