Corporate insolvency resolution process amended with expanded disclosure, guarantor asset transfer rules, and new dissolution and restoration procedur...
Page of 4809
Press 'Enter' after typing page number.
2541 to 2560 of 96177 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Penalty under section 270A(2)(b) was deleted where executors could not file the deceased assessee's return before probate was granted. The Tribunal accepted that, under section 270A(6), the explanation was reasonable and bona fide because the delay arose from circumstances beyond the executors' control, including the absence of court appointment and the time taken to obtain probate. It also noted that the obligation on legal heirs or executors to file the return arises only after receipt of the court order appointing them, and the relevant period was covered by the Supreme Court's COVID-related limitation extension. The penalty was therefore unsustainable.
Penalty under section 270A(2)(b) was deleted where executors could not file the deceased assessee's return before probate was granted. The Tribunal accepted that, under section 270A(6), the explanation was reasonable and bona fide because the delay arose from circumstances beyond the executors' control, including the absence of court appointment and the time taken to obtain probate. It also noted that the obligation on legal heirs or executors to file the return arises only after receipt of the court order appointing them, and the relevant period was covered by the Supreme Court's COVID-related limitation extension. The penalty was therefore unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
