ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
The ITAT held that penalty under s.271(1)(b) imposed on a deceased assessee is void ab initio where statutory notices were not served on or initiated against the legal heirs or legal representative. The AO's failure to bring the legal representative on record and to serve penalty notices on the heirs rendered the penalty proceedings invalid. The Tribunal emphasized that penal consequences cannot attach to a dead person and revenue cannot recover or enforce penal sanctions against the deceased. In consequence, the penalty lacked jurisdictional basis and was set aside. The appeal of the assessee (deceased's representatives) was allowed and the penalty deleted.
The ITAT held that penalty under s.271(1)(b) imposed on a deceased assessee is void ab initio where statutory notices were not served on or initiated against the legal heirs or legal representative. The AO's failure to bring the legal representative on record and to serve penalty notices on the heirs rendered the penalty proceedings invalid. The Tribunal emphasized that penal consequences cannot attach to a dead person and revenue cannot recover or enforce penal sanctions against the deceased. In consequence, the penalty lacked jurisdictional basis and was set aside. The appeal of the assessee (deceased's representatives) was allowed and the penalty deleted.
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