Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Penalty for non-compliance with statutory notices under section 271(1)(b) is not sustainable where the assessee establishes reasonable cause under section 273B. The Tribunal accepted that the assessee was not a regular taxpayer, was unaware of the income-tax proceedings and portal-related compliance, and learnt of the ex parte assessment only after demand was raised. It also noted that the quantum matter had already been restored to the AO. On these facts, the defaults in responding to the notices were treated as sufficiently explained, and the penalty was deleted.
Penalty for non-compliance with statutory notices under section 271(1)(b) is not sustainable where the assessee establishes reasonable cause under section 273B. The Tribunal accepted that the assessee was not a regular taxpayer, was unaware of the income-tax proceedings and portal-related compliance, and learnt of the ex parte assessment only after demand was raised. It also noted that the quantum matter had already been restored to the AO. On these facts, the defaults in responding to the notices were treated as sufficiently explained, and the penalty was deleted.
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