Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Page of 4805
Press 'Enter' after typing page number.
5321 to 5340 of 96100 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Issue: imposition of penalty under section 271(1)(b) for failure to comply with notices under section 142(1). Principle applied: the onus lies on the assessee to show bona fide and reasonable cause and to disclose material facts; Revenue need not prove deliberate default. Outcome: where the assessee offered no substantiated explanation and assessment proceeded ex parte, subsequent belated compliance did not negate penalty. The ITAT upheld two penalties for separate non compliance occasions and dismissed the appeal for failure to prove reasonable cause.
Issue: imposition of penalty under section 271(1)(b) for failure to comply with notices under section 142(1). Principle applied: the onus lies on the assessee to show bona fide and reasonable cause and to disclose material facts; Revenue need not prove deliberate default. Outcome: where the assessee offered no substantiated explanation and assessment proceeded ex parte, subsequent belated compliance did not negate penalty. The ITAT upheld two penalties for separate non compliance occasions and dismissed the appeal for failure to prove reasonable cause.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
