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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...
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Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
The ITAT examined penalty proceedings u/s 271D regarding alleged cash receipt of property sale consideration. The tribunal found AO and CIT(A)'s presumption of cash payment without explicit documentary evidence was incorrect. The appellate tribunal set aside the penalty order and restored the matter to AO for further investigation to definitively ascertain whether sale consideration was received in cash, contravening sec.269SS. The assessee's appeal was allowed for statistical purposes, requiring the AO to conduct a comprehensive re-examination of the mode of payment and potential statutory violations.
The ITAT examined penalty proceedings u/s 271D regarding alleged cash receipt of property sale consideration. The tribunal found AO and CIT(A)'s presumption of cash payment without explicit documentary evidence was incorrect. The appellate tribunal set aside the penalty order and restored the matter to AO for further investigation to definitively ascertain whether sale consideration was received in cash, contravening sec.269SS. The assessee's appeal was allowed for statistical purposes, requiring the AO to conduct a comprehensive re-examination of the mode of payment and potential statutory violations.
Note: It is a system-generated summary and is for quick reference only.
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