Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expens...
Equivalent value attachment under money laundering law upheld where received funds were treated as proceeds of crime and prior-acquired property could...
Assessee failed to establish eligibility for immunity under section 270AA(3) because no application in Form 68-online or manual-was produced or acknowledged; alleged technical glitch was unsubstantiated. The reasoning applies the requirement that an immunity application must be filed and evidenced, and that absence of Form 68 or acknowledgment supports a finding of under reporting. Consequent to these factual and evidentiary findings, penalty liability under section 270A was sustained and the appeal was dismissed.
Assessee failed to establish eligibility for immunity under section 270AA(3) because no application in Form 68-online or manual-was produced or acknowledged; alleged technical glitch was unsubstantiated. The reasoning applies the requirement that an immunity application must be filed and evidenced, and that absence of Form 68 or acknowledgment supports a finding of under reporting. Consequent to these factual and evidentiary findings, penalty liability under section 270A was sustained and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
