Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
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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