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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Assessee trading in machinery incurred losses and failed to maintain books of account; statutory audit obligation triggered by the turnover threshold was applicable but could not be met. Tribunal found failure to establish a reasonable cause for non-maintenance and therefore sustained penalty under the penalty provision for not maintaining accounts. The tribunal rejected reliance on the presumptive taxation scheme as a defence to the penalty. Separately, the tribunal held that imposing an additional penalty for failure to obtain an audit when books were not maintained would amount to double penalisation, and accordingly vacated the audit-related penalty.
Assessee trading in machinery incurred losses and failed to maintain books of account; statutory audit obligation triggered by the turnover threshold was applicable but could not be met. Tribunal found failure to establish a reasonable cause for non-maintenance and therefore sustained penalty under the penalty provision for not maintaining accounts. The tribunal rejected reliance on the presumptive taxation scheme as a defence to the penalty. Separately, the tribunal held that imposing an additional penalty for failure to obtain an audit when books were not maintained would amount to double penalisation, and accordingly vacated the audit-related penalty.
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