Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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ITAT upheld penalty under section 270A for under-reporting in consequence of misreporting, holding that the assessee's deduction claim for a political donation was based on a non-genuine transaction exposed through investigation. The later withdrawal of the claim in response to notice under section 148 was not voluntary but a post-detection attempt to reduce consequences, so it did not cure the initial misrepresentation. The Tribunal also rejected the challenge to the penalty notice, finding that the specific statutory limb under section 270A(9)(a) had been clearly invoked and the assessee was aware of the precise allegation. The appeal was dismissed.
ITAT upheld penalty under section 270A for under-reporting in consequence of misreporting, holding that the assessee's deduction claim for a political donation was based on a non-genuine transaction exposed through investigation. The later withdrawal of the claim in response to notice under section 148 was not voluntary but a post-detection attempt to reduce consequences, so it did not cure the initial misrepresentation. The Tribunal also rejected the challenge to the penalty notice, finding that the specific statutory limb under section 270A(9)(a) had been clearly invoked and the assessee was aware of the precise allegation. The appeal was dismissed.
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