Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
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ITAT reversed penalties imposed under s271(1)(c) and s271AAB against assessee regarding disputed cash expenses and labor payments. AO's additions were initially made at 50%, reduced to 35% by CIT(A), and further reduced to 20% by Coordinate Bench. Despite CIT(A)'s observation of assessee's alleged malafide intent and mens rea, ITAT held that penalties cannot be imposed on additions made purely on estimate basis, following established precedent. The Tribunal noted AO's irresponsible approach and lack of judicial discipline in penalty proceedings, particularly given the Coordinate Bench's prior findings on quantum additions. Appeal allowed in assessee's favor with complete deletion of penalties.
ITAT reversed penalties imposed under s271(1)(c) and s271AAB against assessee regarding disputed cash expenses and labor payments. AO's additions were initially made at 50%, reduced to 35% by CIT(A), and further reduced to 20% by Coordinate Bench. Despite CIT(A)'s observation of assessee's alleged malafide intent and mens rea, ITAT held that penalties cannot be imposed on additions made purely on estimate basis, following established precedent. The Tribunal noted AO's irresponsible approach and lack of judicial discipline in penalty proceedings, particularly given the Coordinate Bench's prior findings on quantum additions. Appeal allowed in assessee's favor with complete deletion of penalties.
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