Request-driven road restoration attracts reverse-charge GST, not governmental-function treatment or compensatory-damages status for business recipient...
Road restoration charges for commercial pipeline works are taxable Government services, with reverse charge liability and no public-function exemption...
Model-wise import cap monitoring cannot justify withholding used multifunction machines where all-India tracking is absent and full security is furnis...
ITAT ruled against penalty imposition under s.271AAB(1A)(b) at 60% rate. The tribunal emphasized that mere voluntary disclosure during search proceedings does not constitute 'undisclosed income' for penalty purposes. No incriminating materials were discovered during the search substantiating undisclosed assets in form of money, bullion, jewelry, or unrecorded transactions. The tribunal held that market adjustments claimed by assessee did not qualify as undisclosed income under Explanation (c) to s.271AAB. Penalty requires discovery of undisclosed income during search as a prerequisite condition. Voluntary offer to pay additional tax to avoid litigation cannot be basis for penalty. The ITAT directed AO to delete the penalty assessment.
ITAT ruled against penalty imposition under s.271AAB(1A)(b) at 60% rate. The tribunal emphasized that mere voluntary disclosure during search proceedings does not constitute 'undisclosed income' for penalty purposes. No incriminating materials were discovered during the search substantiating undisclosed assets in form of money, bullion, jewelry, or unrecorded transactions. The tribunal held that market adjustments claimed by assessee did not qualify as undisclosed income under Explanation (c) to s.271AAB. Penalty requires discovery of undisclosed income during search as a prerequisite condition. Voluntary offer to pay additional tax to avoid litigation cannot be basis for penalty. The ITAT directed AO to delete the penalty assessment.
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TaxTMI 
TaxTMI 
of 4915 
