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.271D for alleged contravention of s.269SS was examined on whether the assessee had "reasonable cause" under s.273B for receiving sale consideration in cash. The assessee received cash advance and balance consideration pursuant to a sale agreement executed before the amendment to s.269SS effective 01.06.2015, completed the registered conveyance in the presence of witnesses, and disclosed the full consideration with due taxes paid. Since the cash receipts were in terms of a pre-amendment contractual arrangement, the statutory "reasonable cause" protection applied, rendering the penalty unsustainable; the penalty was deleted and the appeal was allowed. - ITAT
Penalty under s.271D for alleged contravention of s.269SS was examined on whether the assessee had "reasonable cause" under s.273B for receiving sale consideration in cash. The assessee received cash advance and balance consideration pursuant to a sale agreement executed before the amendment to s.269SS effective 01.06.2015, completed the registered conveyance in the presence of witnesses, and disclosed the full consideration with due taxes paid. Since the cash receipts were in terms of a pre-amendment contractual arrangement, the statutory "reasonable cause" protection applied, rendering the penalty unsustainable; the penalty was deleted and the appeal was allowed. - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
