Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Validity of penalty under s.271(1)(c) turned on whether the notice specified a clear and consistent charge. Since the show-cause notice proceeded on "furnishing inaccurate particulars" but the penalty order treated the case as involving "both concealment and inaccurate particulars" and ultimately computed and levied penalty on alleged "concealment," there was a fatal variance undermining jurisdiction and violating the requirement that the two limbs are distinct. Consequently, the penalty was quashed and the appeal was allowed. - ITAT
Validity of penalty under s.271(1)(c) turned on whether the notice specified a clear and consistent charge. Since the show-cause notice proceeded on "furnishing inaccurate particulars" but the penalty order treated the case as involving "both concealment and inaccurate particulars" and ultimately computed and levied penalty on alleged "concealment," there was a fatal variance undermining jurisdiction and violating the requirement that the two limbs are distinct. Consequently, the penalty was quashed and the appeal was allowed. - ITAT
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