Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
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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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