Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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HC upheld criminal proceedings against assessee under s.276CC of Income Tax Act for willful delay in filing returns. Payment of penalty under Chapter 21 does not preclude prosecution under Chapter 22. Court distinguished from C.P Yogeshwara case where proceedings were quashed due to returns filed before sanction order. Applying s.278E presumption and following Sasi Enterprises precedent, HC ruled assessee must present defense evidence before Magistrate to rebut presumption of culpable mental state. Petition dismissed while preserving right to raise defenses during trial. Court emphasized separate nature of penalty and prosecution provisions under IT Act.
HC upheld criminal proceedings against assessee under s.276CC of Income Tax Act for willful delay in filing returns. Payment of penalty under Chapter 21 does not preclude prosecution under Chapter 22. Court distinguished from C.P Yogeshwara case where proceedings were quashed due to returns filed before sanction order. Applying s.278E presumption and following Sasi Enterprises precedent, HC ruled assessee must present defense evidence before Magistrate to rebut presumption of culpable mental state. Petition dismissed while preserving right to raise defenses during trial. Court emphasized separate nature of penalty and prosecution provisions under IT Act.
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