Misdeclaration of quantity rejected where supplier evidence established counting errors, so reassessment, confiscation and redemption fine were set as...
Admissibility of electronic evidence controls valuation and penalty exposure; non compliant e records and statements nullify revaluation and penalties...
Penalty under section 272A(1)(d) for non-compliance with a statutory notice was deleted by the ITAT. The Tribunal noted that the quantum assessment had already been restored to the Assessing Officer for de novo consideration and, although that restoration did not directly determine the non-appearance issue, it considered the assessee's consistent follow-up with the tax authorities in other matters. On that overall conduct and in the interests of justice, the Tribunal directed deletion of the penalty and allowed the appeal.
Penalty under section 272A(1)(d) for non-compliance with a statutory notice was deleted by the ITAT. The Tribunal noted that the quantum assessment had already been restored to the Assessing Officer for de novo consideration and, although that restoration did not directly determine the non-appearance issue, it considered the assessee's consistent follow-up with the tax authorities in other matters. On that overall conduct and in the interests of justice, the Tribunal directed deletion of the penalty and allowed the appeal.
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