Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The ITAT deleted the penalty imposed under s.271C for short deduction of TDS on LFC reimbursements to employees. The Tribunal found that the assessee, a public sector undertaking, acted under a bona fide belief that reimbursements for journeys with ultimate destinations in India would be exempt under s.10(5), a position temporarily supported by an interim order from the Madras HC. The ITAT determined this was a genuinely debatable issue ultimately settled by the SC, not a deliberate attempt to evade tax obligations. Applying the principle from Pricewaterhouse Coopers that penalties are unwarranted for inadvertent, bona fide errors absent intent to conceal income, the Tribunal also opined that the CIT(A) should have condoned the 961-day appeal delay given the recurring nature of the issue.
The ITAT deleted the penalty imposed under s.271C for short deduction of TDS on LFC reimbursements to employees. The Tribunal found that the assessee, a public sector undertaking, acted under a bona fide belief that reimbursements for journeys with ultimate destinations in India would be exempt under s.10(5), a position temporarily supported by an interim order from the Madras HC. The ITAT determined this was a genuinely debatable issue ultimately settled by the SC, not a deliberate attempt to evade tax obligations. Applying the principle from Pricewaterhouse Coopers that penalties are unwarranted for inadvertent, bona fide errors absent intent to conceal income, the Tribunal also opined that the CIT(A) should have condoned the 961-day appeal delay given the recurring nature of the issue.
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