Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
ITAT set aside CIT(A)'s order confirming penalty u/s 270A for misreporting income. Assessee substantially complied with s.270AA by paying tax, not contesting assessment, applying for waiver on plain paper despite not filing Form 68. AO didn't specify misreporting clause. Remanded to CIT(A) to decide if Form 68 dispensable when substantive conditions met, pass reasoned order on misreporting applicability, allow assessee to produce evidence. Appeal allowed for statistical purposes.
ITAT set aside CIT(A)'s order confirming penalty u/s 270A for misreporting income. Assessee substantially complied with s.270AA by paying tax, not contesting assessment, applying for waiver on plain paper despite not filing Form 68. AO didn't specify misreporting clause. Remanded to CIT(A) to decide if Form 68 dispensable when substantive conditions met, pass reasoned order on misreporting applicability, allow assessee to produce evidence. Appeal allowed for statistical purposes.
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