Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Prosecution for failure to file an income tax return under the penal provision was quashed because the officer who initiated the complaint lacked jurisdiction after no transfer of the case was shown, and the sanction was treated as having been granted without proper consideration of jurisdiction. The Court also held that prosecution could not be sustained without regular assessment determining tax liability after giving credit for tax deducted at source and other payments. Relying on precedent, it further found that absence of penalty proceedings for non-filing made continuation of the criminal case an abuse of process.
Prosecution for failure to file an income tax return under the penal provision was quashed because the officer who initiated the complaint lacked jurisdiction after no transfer of the case was shown, and the sanction was treated as having been granted without proper consideration of jurisdiction. The Court also held that prosecution could not be sustained without regular assessment determining tax liability after giving credit for tax deducted at source and other payments. Relying on precedent, it further found that absence of penalty proceedings for non-filing made continuation of the criminal case an abuse of process.
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