Cross-segment derivatives manipulation: integrated order patterns can support interim restraints, while director liability requires responsibility, co...
Power bank definition limits the customs-duty exclusion, preserving concessional treatment for stationary, grid-scale and industrial battery storage s...
Packing-material input credits support inverted-duty refunds for packaged tea, while rate-reduction and concessional-supply circulars remain inapplica...
Page of 4902
Press 'Enter' after typing page number.
41 to 60 of 98021 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The ITAT set aside the penalty imposed under section 271DA of the Act due to the absence of recorded satisfaction in the quantum assessment order, a mandatory prerequisite for levying such penalty. Drawing analogy from the Supreme Court's ruling in a case concerning section 271E, where penalties were quashed for lack of recorded satisfaction, the tribunal held that the same principle applies to penalties under section 271DA. Consequently, the penalty imposed without the requisite satisfaction recording was held invalid. The appeal filed by the assessee was allowed, and the penalty under section 271DA was cancelled.
The ITAT set aside the penalty imposed under section 271DA of the Act due to the absence of recorded satisfaction in the quantum assessment order, a mandatory prerequisite for levying such penalty. Drawing analogy from the Supreme Court's ruling in a case concerning section 271E, where penalties were quashed for lack of recorded satisfaction, the tribunal held that the same principle applies to penalties under section 271DA. Consequently, the penalty imposed without the requisite satisfaction recording was held invalid. The appeal filed by the assessee was allowed, and the penalty under section 271DA was cancelled.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4902 
