Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
Export Obligation Discharge Certificates for EPCG compliance cannot be questioned by Customs unless DGFT adjudicates and cancels them, so demands quas...
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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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