Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
The ITAT held that penalty under section 271(1)(c) was unsustainable because the dispute concerned only the head of income and the allowability of deduction on disclosed facts, not concealment or furnishing of inaccurate particulars. The assessee's claim for full section 54 relief was accepted on the merits, and the joint reinvestment with her son had been disclosed to the department. Relying on Manjunatha Cotton and Reliance Petroproducts, the Tribunal held that a disallowed claim or a claim under a different head does not by itself justify penalty. The penalty was deleted.
The ITAT held that penalty under section 271(1)(c) was unsustainable because the dispute concerned only the head of income and the allowability of deduction on disclosed facts, not concealment or furnishing of inaccurate particulars. The assessee's claim for full section 54 relief was accepted on the merits, and the joint reinvestment with her son had been disclosed to the department. Relying on Manjunatha Cotton and Reliance Petroproducts, the Tribunal held that a disallowed claim or a claim under a different head does not by itself justify penalty. The penalty was deleted.
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