Content ownership determines GST treatment of printed publications: customer-supplied text is a taxable printing service, owned content is exempt good...
Employee recoveries, input tax credit and notice pay recovery under GST: AAR distinguishes taxable supplies from non-taxable perquisites and penalties...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
