Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
ITAT deleted penalty for under-reporting of income under section 270A because the income had already been disclosed and was reflected through salary records, TDS and Form 26AS. The Tribunal noted that the addition arose from non-consideration of available material, while the appellate relief aligned the assessed income with the returned income. Once the quantum addition was deleted, the statutory condition for under-reporting ceased to exist, and there was no basis to infer concealment or misreporting. The consequential penalty therefore could not be sustained and the assessee's appeal was allowed.
ITAT deleted penalty for under-reporting of income under section 270A because the income had already been disclosed and was reflected through salary records, TDS and Form 26AS. The Tribunal noted that the addition arose from non-consideration of available material, while the appellate relief aligned the assessed income with the returned income. Once the quantum addition was deleted, the statutory condition for under-reporting ceased to exist, and there was no basis to infer concealment or misreporting. The consequential penalty therefore could not be sustained and the assessee's appeal was allowed.
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