Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
ITAT quashed penalties under sections 271D and 271E for accepting cash loans of Rs. 17,00,000 in violation of section 269SS. Tribunal considered assessee's circumstances as middle-class, uneducated individual who received loans from agriculturists seeking anonymity due to CBI concerns. Reasonable cause was established given the timing of loans immediately after CBI actions and assessee's dire financial need. The subsequent cash repayment was made on lender's insistence. Given these mitigating factors and genuine circumstances, ITAT determined penalties were not warranted under sections 271D and 271E read with section 274, setting aside JCIT's penalty orders.
ITAT quashed penalties under sections 271D and 271E for accepting cash loans of Rs. 17,00,000 in violation of section 269SS. Tribunal considered assessee's circumstances as middle-class, uneducated individual who received loans from agriculturists seeking anonymity due to CBI concerns. Reasonable cause was established given the timing of loans immediately after CBI actions and assessee's dire financial need. The subsequent cash repayment was made on lender's insistence. Given these mitigating factors and genuine circumstances, ITAT determined penalties were not warranted under sections 271D and 271E read with section 274, setting aside JCIT's penalty orders.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
