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...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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HC construed CBDT circulars dated 09.09.2019 and 23.01.2020 in relation to prosecution under ss. 276C(1) and 278E of the IT Act. It held that where the amount of tax sought to be evaded exceeds Rs. 25 lakhs, the competent approving/sanctioning authority for launching prosecution is the PCIT, and not a collegium of two CCIT/DGIT rank officers. The requirement of collegium approval applies only where the evaded tax is Rs. 25 lakhs or below. Finding the sanction valid and no infirmity in prosecution, the petition by assessee was dismissed.
HC construed CBDT circulars dated 09.09.2019 and 23.01.2020 in relation to prosecution under ss. 276C(1) and 278E of the IT Act. It held that where the amount of tax sought to be evaded exceeds Rs. 25 lakhs, the competent approving/sanctioning authority for launching prosecution is the PCIT, and not a collegium of two CCIT/DGIT rank officers. The requirement of collegium approval applies only where the evaded tax is Rs. 25 lakhs or below. Finding the sanction valid and no infirmity in prosecution, the petition by assessee was dismissed.
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