Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Penalty under section 271(1)(c) could not be sustained where the disallowance arose from a debatable claim for proportionate amortisation of lease premium and the jurisdictional High Court had already admitted a substantial question of law in the assessee's own case. The Tribunal held that the claim was bona fide and, following Reliance Petroproducts, mere making of an unsustainable claim did not amount to furnishing inaccurate particulars absent any finding that the particulars were false or erroneous. On that basis, the penalty for both assessment years was quashed.
Penalty under section 271(1)(c) could not be sustained where the disallowance arose from a debatable claim for proportionate amortisation of lease premium and the jurisdictional High Court had already admitted a substantial question of law in the assessee's own case. The Tribunal held that the claim was bona fide and, following Reliance Petroproducts, mere making of an unsustainable claim did not amount to furnishing inaccurate particulars absent any finding that the particulars were false or erroneous. On that basis, the penalty for both assessment years was quashed.
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