Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
ITAT held that penalty u/s 272A(1)(c) for non-compliance of summons is not sustainable. The tribunal found no substantive evidence of willful default by the assessee. First notice via email was disputed and not conclusively proven as served. Second notice involved a legitimate adjournment request. Third notice was also contested as unserved, with revenue not contradicting the claim. Fourth notice was fully complied with. Applying Section 273B, the tribunal determined reasonable cause existed for the alleged non-compliance. Consequently, the tribunal allowed the assessee's grounds and set aside the penalty proceedings, emphasizing procedural fairness and lack of deliberate contumacy.
ITAT held that penalty u/s 272A(1)(c) for non-compliance of summons is not sustainable. The tribunal found no substantive evidence of willful default by the assessee. First notice via email was disputed and not conclusively proven as served. Second notice involved a legitimate adjournment request. Third notice was also contested as unserved, with revenue not contradicting the claim. Fourth notice was fully complied with. Applying Section 273B, the tribunal determined reasonable cause existed for the alleged non-compliance. Consequently, the tribunal allowed the assessee's grounds and set aside the penalty proceedings, emphasizing procedural fairness and lack of deliberate contumacy.
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