Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
AO levied penalty u/s 271(1)(c) as assessee failed to file return u/s 139 or in response to notice u/s 148, despite receiving substantial contract receipts of Rs. 2.5 crore. ITAT upheld penalty, rejecting assessee's plea that addition was estimated, as assessee defied statutory requirements and didn't furnish details during assessment proceedings. Assessee's contention of auditor's failure being the cause was rejected, as filing return u/s 139 is assessee's responsibility. Penalty confirmed.
AO levied penalty u/s 271(1)(c) as assessee failed to file return u/s 139 or in response to notice u/s 148, despite receiving substantial contract receipts of Rs. 2.5 crore. ITAT upheld penalty, rejecting assessee's plea that addition was estimated, as assessee defied statutory requirements and didn't furnish details during assessment proceedings. Assessee's contention of auditor's failure being the cause was rejected, as filing return u/s 139 is assessee's responsibility. Penalty confirmed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
