Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
ITAT ruled against penalty under Section 271D for alleged violation of Section 269SS regarding cash transactions in property transfer. The Tribunal held that while Section 269SS applies broadly to property transfers beyond simple buy-sell transactions, it targets actual recipients of funds, not intermediaries. The appellant, acting as a broker, merely facilitated payments between principals and wasn't the true recipient. Additionally, ITAT found reasonable cause under Section 273B, noting the relevant amendment to Section 269SS occurred after the transaction date. The appellant's limited education and role as middleman demonstrated absence of malafide intent. The Tribunal directed deletion of penalty, allowing the appeal.
ITAT ruled against penalty under Section 271D for alleged violation of Section 269SS regarding cash transactions in property transfer. The Tribunal held that while Section 269SS applies broadly to property transfers beyond simple buy-sell transactions, it targets actual recipients of funds, not intermediaries. The appellant, acting as a broker, merely facilitated payments between principals and wasn't the true recipient. Additionally, ITAT found reasonable cause under Section 273B, noting the relevant amendment to Section 269SS occurred after the transaction date. The appellant's limited education and role as middleman demonstrated absence of malafide intent. The Tribunal directed deletion of penalty, allowing the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
