Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
ITAT held that penalty under s.270A was unsustainable and set aside because the AO, in the s.274 notice and penalty order, failed to specify the precise default-whether "under-reporting" or "under-reporting as a consequence of misreporting"-each attracting distinct penal consequences and rates; issuance of a notice alleging both distinct defaults rendered the proceedings void ab initio. Given the absence of identification of the exact charge, the penalty could not be validly levied. Accordingly, the assessee's appeal was allowed and the penalty order annulled.
ITAT held that penalty under s.270A was unsustainable and set aside because the AO, in the s.274 notice and penalty order, failed to specify the precise default-whether "under-reporting" or "under-reporting as a consequence of misreporting"-each attracting distinct penal consequences and rates; issuance of a notice alleging both distinct defaults rendered the proceedings void ab initio. Given the absence of identification of the exact charge, the penalty could not be validly levied. Accordingly, the assessee's appeal was allowed and the penalty order annulled.
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