Misdeclaration of quantity rejected where supplier evidence established counting errors, so reassessment, confiscation and redemption fine were set as...
Admissibility of electronic evidence controls valuation and penalty exposure; non compliant e records and statements nullify revaluation and penalties...
Penalty under section 271D was quashed because the assessment order did not record the Assessing Officer's satisfaction that the assessee had committed a contravention attracting that penalty. The Tribunal held that such recorded satisfaction in the body of the assessment order is a jurisdictional prerequisite for valid initiation of penalty proceedings; a mere reference to penalty under section 271(1)(c) was insufficient. In the absence of that foundation, the Joint Commissioner lacked jurisdiction to proceed, the penalty order was invalid, and the appellate order sustaining it was set aside.
Penalty under section 271D was quashed because the assessment order did not record the Assessing Officer's satisfaction that the assessee had committed a contravention attracting that penalty. The Tribunal held that such recorded satisfaction in the body of the assessment order is a jurisdictional prerequisite for valid initiation of penalty proceedings; a mere reference to penalty under section 271(1)(c) was insufficient. In the absence of that foundation, the Joint Commissioner lacked jurisdiction to proceed, the penalty order was invalid, and the appellate order sustaining it was set aside.
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