Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Penalty under section 271D for alleged violation of section 269SS, based on receipt of cash exceeding the statutory threshold under an agreement to sell, was held unsustainable because the assessment order did not doubt the source, identity, or genuineness of the cash deposited in the bank. Applying binding precedent that, where the veracity of a cash deposit is in doubt, the proper course is an addition under section 68 rather than invoking sections 269SS/269T, it was held that those provisions were inapplicable on the admitted facts. Consequently, the penalty could not be levied and the appeal was allowed. - ITAT
Penalty under section 271D for alleged violation of section 269SS, based on receipt of cash exceeding the statutory threshold under an agreement to sell, was held unsustainable because the assessment order did not doubt the source, identity, or genuineness of the cash deposited in the bank. Applying binding precedent that, where the veracity of a cash deposit is in doubt, the proper course is an addition under section 68 rather than invoking sections 269SS/269T, it was held that those provisions were inapplicable on the admitted facts. Consequently, the penalty could not be levied and the appeal was allowed. - ITAT
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