Limitation period commencement and procedural inquiry rules: identity-based limitation upheld; complaints by authorised public servants need not attra...
Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
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Where addition was made solely on an estimated net profit basis, such estimate falls outside "under-reporting of income" under section 270A(6)(b) provided the accounts are correct and complete to the satisfaction of the assessing officer; accordingly the estimation does not sustain penalty as under-reporting. Separately, penalty proceedings were vitiated by failure to specify the statutory limb of section 270A (whether clauses (2)(a)-(g) or (9)(a)-(f)), rendering initiation of penalty legally untenable; consequence: penalty deleted and appeal allowed. - ITAT
Where addition was made solely on an estimated net profit basis, such estimate falls outside "under-reporting of income" under section 270A(6)(b) provided the accounts are correct and complete to the satisfaction of the assessing officer; accordingly the estimation does not sustain penalty as under-reporting. Separately, penalty proceedings were vitiated by failure to specify the statutory limb of section 270A (whether clauses (2)(a)-(g) or (9)(a)-(f)), rendering initiation of penalty legally untenable; consequence: penalty deleted and appeal allowed. - ITAT
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