Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
Page of 4817
Press 'Enter' after typing page number.
7241 to 7260 of 96333 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The article addresses eligibility for immunity under the statutory immunity provision and its effect on penalty proceedings under the penalty provision. It explains that where an assessee timely files the prescribed immunity application, pays tax and interest, and does not challenge the assessment, the assessing officer must record reasons and pass a speaking order if denying immunity; absence of any reasoned rejection of the application renders a subsequent penalty for misreporting unsustainable. Consequently, a penalty levied without a valid rejection of the immunity application is quashed.
The article addresses eligibility for immunity under the statutory immunity provision and its effect on penalty proceedings under the penalty provision. It explains that where an assessee timely files the prescribed immunity application, pays tax and interest, and does not challenge the assessment, the assessing officer must record reasons and pass a speaking order if denying immunity; absence of any reasoned rejection of the application renders a subsequent penalty for misreporting unsustainable. Consequently, a penalty levied without a valid rejection of the immunity application is quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
