Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Assessee claimed excess deduction under income from house property and received an excess refund; assessee voluntarily deposited the excess refund with interest and filed revised computations before issuance of notice u/s.148. Tribunal applied the principle that voluntary deposit of tax and interest prior to issuance of notice and disclosure of correct income in revised returns negates the basis for imposing penalty; accordingly the penalties under 271(1)(c) and 270A were deleted on the facts and in line with prior similar decisions where the excess refund was repaid before notice.
Assessee claimed excess deduction under income from house property and received an excess refund; assessee voluntarily deposited the excess refund with interest and filed revised computations before issuance of notice u/s.148. Tribunal applied the principle that voluntary deposit of tax and interest prior to issuance of notice and disclosure of correct income in revised returns negates the basis for imposing penalty; accordingly the penalties under 271(1)(c) and 270A were deleted on the facts and in line with prior similar decisions where the excess refund was repaid before notice.
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