Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
ITAT cancelled penalty under s271B for failure to furnish tax audit report under s44AB. Assessee, a first-time taxpayer from remote area, had engaged CA who audited books but failed to upload report. Though assessment was completed under s144, assessee later produced audit report dated 18.09.2017 during CIT(A) proceedings. Considering assessee's remote location, limited access to professional services, first-time tax filing status, and default being attributable to CA's failure rather than willful non-compliance, ITAT held penalty was not warranted. The technical breach occurred due to professional's oversight and lack of proper guidance to a small taxpayer, making it a fit case for penalty cancellation.
ITAT cancelled penalty under s271B for failure to furnish tax audit report under s44AB. Assessee, a first-time taxpayer from remote area, had engaged CA who audited books but failed to upload report. Though assessment was completed under s144, assessee later produced audit report dated 18.09.2017 during CIT(A) proceedings. Considering assessee's remote location, limited access to professional services, first-time tax filing status, and default being attributable to CA's failure rather than willful non-compliance, ITAT held penalty was not warranted. The technical breach occurred due to professional's oversight and lack of proper guidance to a small taxpayer, making it a fit case for penalty cancellation.
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