Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
Interpretation of the term "otherwise" in Section 269SS of the Income Tax Act and the applicability of the penalty u/s 271D for accepting cash consideration on the sale of immovable property. The Tribunal applied the doctrine of "Ejusdem Generis" and held that the word "otherwise" should be interpreted narrowly and cannot include "sale consideration." The Tribunal found reasonable cause u/s 273B for the assessee's failure to comply with Section 269SS, considering the lack of intention to generate unaccounted money, disclosure of the cash receipt in the return, and the assessee's lack of knowledge about the legal provisions. The penalty u/s 271D was deleted in favor of the assessee.
Interpretation of the term "otherwise" in Section 269SS of the Income Tax Act and the applicability of the penalty u/s 271D for accepting cash consideration on the sale of immovable property. The Tribunal applied the doctrine of "Ejusdem Generis" and held that the word "otherwise" should be interpreted narrowly and cannot include "sale consideration." The Tribunal found reasonable cause u/s 273B for the assessee's failure to comply with Section 269SS, considering the lack of intention to generate unaccounted money, disclosure of the cash receipt in the return, and the assessee's lack of knowledge about the legal provisions. The penalty u/s 271D was deleted in favor of the assessee.
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