Anticipatory Bail granted on conditions balancing presumption of innocence with investigative needs; passport surrender and regular attendance require...
Minimum Public Offer Requirements set tiered issuer-based allotment minima with mandatory staged public shareholding increases and exchange enforcemen...
Tribunal addressed levy of penalty under section 271AAB(1A) focusing on whether the addition constituted undisclosed income under Explanation clause (c). The Tribunal reasoned that clause (c) requires money, valuables, or entries or transactions found during a search indicating incriminating material; absent such material the statutory condition for penalty is unmet, so the penalty cannot be sustained. The AO had taxed the amount under income reconstruction principles but, since no incriminating material was found during search proceedings, the penalty under section 271AAB(1A) was deleted and relief granted to the assessee.
Tribunal addressed levy of penalty under section 271AAB(1A) focusing on whether the addition constituted undisclosed income under Explanation clause (c). The Tribunal reasoned that clause (c) requires money, valuables, or entries or transactions found during a search indicating incriminating material; absent such material the statutory condition for penalty is unmet, so the penalty cannot be sustained. The AO had taxed the amount under income reconstruction principles but, since no incriminating material was found during search proceedings, the penalty under section 271AAB(1A) was deleted and relief granted to the assessee.
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