Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
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...
Dominant issue: Whether penalties under sections 271D and 271E were leviable for cash loans. The Tribunal found on the substantive facts that the assessee's taxable income was below the limit and substantial receipts were agricultural income accepted by the AO, and lenders were agriculturists supported by affidavits and land-revenue records; thus the second proviso applied and no penalty could be sustained. Separately, the Tribunal held that bona fide cash dealings in the first year of a construction business, with genuine source and no tax-evasion motive, constitute reasonable cause under section 273B and warranted deletion of the penalties - ITAT
Dominant issue: Whether penalties under sections 271D and 271E were leviable for cash loans. The Tribunal found on the substantive facts that the assessee's taxable income was below the limit and substantial receipts were agricultural income accepted by the AO, and lenders were agriculturists supported by affidavits and land-revenue records; thus the second proviso applied and no penalty could be sustained. Separately, the Tribunal held that bona fide cash dealings in the first year of a construction business, with genuine source and no tax-evasion motive, constitute reasonable cause under section 273B and warranted deletion of the penalties - ITAT
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