Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
ITAT adjudicated a tax dispute regarding penalty u/s 271(1)(c), finding no justification for penalty imposition. The tribunal determined that returned income matched assessed income, and no substantive evidence of income concealment existed. The show cause notice lacked specific allegations of tax evasion or inaccurate income particulars. Given the absence of procedural fairness and no demonstrable intent to evade tax, the tribunal deleted the 100% penalty. The decision hinged on procedural defects and lack of clear evidence of deliberate tax non-compliance, ultimately ruling in favor of the assessee based on principles of natural justice and procedural propriety.
ITAT adjudicated a tax dispute regarding penalty u/s 271(1)(c), finding no justification for penalty imposition. The tribunal determined that returned income matched assessed income, and no substantive evidence of income concealment existed. The show cause notice lacked specific allegations of tax evasion or inaccurate income particulars. Given the absence of procedural fairness and no demonstrable intent to evade tax, the tribunal deleted the 100% penalty. The decision hinged on procedural defects and lack of clear evidence of deliberate tax non-compliance, ultimately ruling in favor of the assessee based on principles of natural justice and procedural propriety.
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