Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Issue concerns imposition of penalty for failure to reply to assessment notices and the scope of the statutory discretion in the word "may" under penalty law. The article explains that discretion permits the assessing officer to consider reasons offered by the assessee - here a school that did not check email due to admission work - and that where the AO accepted the return and there was no escapement of income, imposition of penalty was inappropriate. Reliance on coordinate decisions deleting penalty where assessment proceeded on the return supports allowing the appeal and negating wilful default in these circumstances.
Issue concerns imposition of penalty for failure to reply to assessment notices and the scope of the statutory discretion in the word "may" under penalty law. The article explains that discretion permits the assessing officer to consider reasons offered by the assessee - here a school that did not check email due to admission work - and that where the AO accepted the return and there was no escapement of income, imposition of penalty was inappropriate. Reliance on coordinate decisions deleting penalty where assessment proceeded on the return supports allowing the appeal and negating wilful default in these circumstances.
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