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...
Page of 4817
Press 'Enter' after typing page number.
621 to 640 of 96333 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 
of 4817 
Join Channel 
