PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Page of 4826
Press 'Enter' after typing page number.
1 to 20 of 96510 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Recording of satisfaction in the assessment order is a mandatory pre-condition for initiating penalty under section 271D where the alleged violation concerns section 269SS. The Tribunal held that the additional legal ground could be examined on the existing record because it went to the root of the penalty validity. As the assessment order accepted the assessee's explanation for the cash deposits and did not record any satisfaction for penalty initiation, the penalty proceedings could not be sustained. The penalty order was quashed and the assessee's appeal was allowed.
Recording of satisfaction in the assessment order is a mandatory pre-condition for initiating penalty under section 271D where the alleged violation concerns section 269SS. The Tribunal held that the additional legal ground could be examined on the existing record because it went to the root of the penalty validity. As the assessment order accepted the assessee's explanation for the cash deposits and did not record any satisfaction for penalty initiation, the penalty proceedings could not be sustained. The penalty order was quashed and the assessee's appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
