Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
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Once the jurisdictional High Court had admitted the assessee's quantum appeal on substantial questions of law concerning the transfer pricing addition, the underlying addition had not attained finality and remained debatable. In that situation, the Tribunal applied the principle that a debatable claim does not by itself establish concealment of income or furnishing of inaccurate particulars. Penalty under section 271(1)(c) was therefore held not leviable, and the deletion of penalty was upheld.
Once the jurisdictional High Court had admitted the assessee's quantum appeal on substantial questions of law concerning the transfer pricing addition, the underlying addition had not attained finality and remained debatable. In that situation, the Tribunal applied the principle that a debatable claim does not by itself establish concealment of income or furnishing of inaccurate particulars. Penalty under section 271(1)(c) was therefore held not leviable, and the deletion of penalty was upheld.
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