Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
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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.
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