PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
ITAT held that disallowance under section 35(2AB) does not automatically constitute under-reporting of income. The assessee fully disclosed all relevant facts in the ITR, and no evidence demonstrated intentional suppression or false claims. The tribunal found no inaccurate particulars were furnished, and a mere unsustainable legal claim does not equate to under-reporting. The penalty under section 270A was not leviable, particularly since the Form 3CL was issued post-ITR filing. The tribunal emphasized that without strict proof of intentional concealment or inaccuracy, penalty provisions cannot be invoked. The decision was rendered in favor of the assessee, negating the penalty imposition.
ITAT held that disallowance under section 35(2AB) does not automatically constitute under-reporting of income. The assessee fully disclosed all relevant facts in the ITR, and no evidence demonstrated intentional suppression or false claims. The tribunal found no inaccurate particulars were furnished, and a mere unsustainable legal claim does not equate to under-reporting. The penalty under section 270A was not leviable, particularly since the Form 3CL was issued post-ITR filing. The tribunal emphasized that without strict proof of intentional concealment or inaccuracy, penalty provisions cannot be invoked. The decision was rendered in favor of the assessee, negating the penalty imposition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
