Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Page of 4792
Press 'Enter' after typing page number.
121 to 140 of 95833 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Penalty under s. 270A(1) r/w s. 270A(9)(c) for alleged false expense claims was examined where the underlying addition comprised an ad hoc disallowance sustained at 20% on an estimated basis. Since the income adjustment was purely estimative and did not meet the statutory parameters of "under-reported income" warranting penal consequences, and the AO had not recorded the requisite satisfaction to justify levy under s. 270A, the penalty was held arbitrary and void ab initio. Penalty was quashed and the appeal was allowed. - ITAT
Penalty under s. 270A(1) r/w s. 270A(9)(c) for alleged false expense claims was examined where the underlying addition comprised an ad hoc disallowance sustained at 20% on an estimated basis. Since the income adjustment was purely estimative and did not meet the statutory parameters of "under-reported income" warranting penal consequences, and the AO had not recorded the requisite satisfaction to justify levy under s. 270A, the penalty was held arbitrary and void ab initio. Penalty was quashed and the appeal was allowed. - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
