Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
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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