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...
Penalty under s. 271(1)(c) read with s. 274 was challenged on the ground that the notice did not specify whether the charge was "concealment of income" or "furnishing inaccurate particulars of income." Since penalty proceedings are penal in nature, the charge must be unequivocal and unambiguous; the AO is required to strike off the inapplicable limb and cannot club both limbs in the notice. As the AO failed to strike off either limb and left the notice vague, the penalty proceedings were held invalid and the penalty was quashed, granting relief to the taxpayer. - ITAT
Penalty under s. 271(1)(c) read with s. 274 was challenged on the ground that the notice did not specify whether the charge was "concealment of income" or "furnishing inaccurate particulars of income." Since penalty proceedings are penal in nature, the charge must be unequivocal and unambiguous; the AO is required to strike off the inapplicable limb and cannot club both limbs in the notice. As the AO failed to strike off either limb and left the notice vague, the penalty proceedings were held invalid and the penalty was quashed, granting relief to the taxpayer. - ITAT
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