Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Disclosure of income detected during a survey that is recorded in books, included in the return and accepted in assessment negates the foundation for imposing a penalty under section 271(1)(c); the tribunal concluded there was no concealment or furnishing of inaccurate particulars where the assessing officer did not treat the amounts as unexplained credits or make separate additions and only made limited disallowances, and therefore deletion of the penalty was upheld as a matter of law and fact.
Disclosure of income detected during a survey that is recorded in books, included in the return and accepted in assessment negates the foundation for imposing a penalty under section 271(1)(c); the tribunal concluded there was no concealment or furnishing of inaccurate particulars where the assessing officer did not treat the amounts as unexplained credits or make separate additions and only made limited disallowances, and therefore deletion of the penalty was upheld as a matter of law and fact.
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