Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The assessing officer (AO) is empowered u/s 275(1A) to revise the penalty order by giving a reasonable opportunity of hearing to the assessee within six months from the receipt of an appellate or revision order modifying the assessment. In the event the order passed by the Tribunal is modified by the High Court, the AO is required to give effect to the High Court's judgment by invoking Section 275(1A) and revise the penalty order accordingly. The CIT(A) correctly followed the Coordinate Bench decision and deleted the proportionate penalty levied by the AO to the extent of additions not confirmed by the Appellate Tribunal. The Revenue failed to demonstrate any stay order issued by the High Court against the Tribunal's order. Hence, the CIT(A)'s order confirming the penalty to the extent of additions confirmed by the Appellate Tribunal is upheld, and the Revenue's ground is dismissed.
The assessing officer (AO) is empowered u/s 275(1A) to revise the penalty order by giving a reasonable opportunity of hearing to the assessee within six months from the receipt of an appellate or revision order modifying the assessment. In the event the order passed by the Tribunal is modified by the High Court, the AO is required to give effect to the High Court's judgment by invoking Section 275(1A) and revise the penalty order accordingly. The CIT(A) correctly followed the Coordinate Bench decision and deleted the proportionate penalty levied by the AO to the extent of additions not confirmed by the Appellate Tribunal. The Revenue failed to demonstrate any stay order issued by the High Court against the Tribunal's order. Hence, the CIT(A)'s order confirming the penalty to the extent of additions confirmed by the Appellate Tribunal is upheld, and the Revenue's ground is dismissed.
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