Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
HC affirmed penalty proceedings under s271D were time-barred due to procedural delays. Initial reference by ITO on 16.11.2016 was followed by Show Cause Notice from Additional CIT only on 10.11.2017, with final penalty order issued on 22.02.2018. This exceeded statutory limitation period from reference date. Revenue provided no justification for delayed issuance of show cause notice. Court rejected Revenue's reliance on TAM TAM precedent as fact-specific, distinguishing it from present case. Tribunal's order upheld, finding proceedings initiated beyond limitation period invalid. Questions of law resolved in assessee's favor, invalidating penalty imposed for s269SS violations.
HC affirmed penalty proceedings under s271D were time-barred due to procedural delays. Initial reference by ITO on 16.11.2016 was followed by Show Cause Notice from Additional CIT only on 10.11.2017, with final penalty order issued on 22.02.2018. This exceeded statutory limitation period from reference date. Revenue provided no justification for delayed issuance of show cause notice. Court rejected Revenue's reliance on TAM TAM precedent as fact-specific, distinguishing it from present case. Tribunal's order upheld, finding proceedings initiated beyond limitation period invalid. Questions of law resolved in assessee's favor, invalidating penalty imposed for s269SS violations.
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