Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
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Penalty under section 271(1)(c) was contested where taxability of interest and commitment fees turned on interpretation of the India Germany DTAA and whether a representative office constituted a Permanent Establishment; AO taxed receipts at 40% but Tribunal treated them under Article 11 at 10%. The CIT(A) and Tribunal found the addition arose from the assessee's voluntary disclosures and a bona fide difference of opinion, invoking Reliance Petroproducts that an unsustainable claim alone does not constitute furnishing inaccurate particulars. Consequently no penalty was warranted and the appellant's appeal was allowed.
Penalty under section 271(1)(c) was contested where taxability of interest and commitment fees turned on interpretation of the India Germany DTAA and whether a representative office constituted a Permanent Establishment; AO taxed receipts at 40% but Tribunal treated them under Article 11 at 10%. The CIT(A) and Tribunal found the addition arose from the assessee's voluntary disclosures and a bona fide difference of opinion, invoking Reliance Petroproducts that an unsustainable claim alone does not constitute furnishing inaccurate particulars. Consequently no penalty was warranted and the appellant's appeal was allowed.
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