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Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Penalty under section 270A was deleted because the assessee had voluntarily disclosed additional income in the return filed under section 153C and paid tax and interest before assessment proceedings began. The Tribunal treated the earlier omission in the section 139 return as an inadvertent, bona fide mistake and relied on the principle that penalty is not automatic merely because higher income is later offered and accepted. On those facts, the disclosure and payment were held sufficient to negate penalty.
Penalty under section 270A was deleted because the assessee had voluntarily disclosed additional income in the return filed under section 153C and paid tax and interest before assessment proceedings began. The Tribunal treated the earlier omission in the section 139 return as an inadvertent, bona fide mistake and relied on the principle that penalty is not automatic merely because higher income is later offered and accepted. On those facts, the disclosure and payment were held sufficient to negate penalty.
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