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 271C was held unsustainable where the order was passed beyond the six-month limit prescribed by section 275(1)(c), as fiscal limitation provisions must be strictly applied and penalty cannot be imposed after expiry of that period. The tribunal also noted that the alleged default arose from a disallowance treated as interest-related expenditure, yet the reference for penalty was made after an inordinate 18-month delay. That delay was found to defeat the object of section 275(1)(c), and the penalty order, as well as the appellate affirmation, was set aside and the penalty deleted.
Penalty under section 271C was held unsustainable where the order was passed beyond the six-month limit prescribed by section 275(1)(c), as fiscal limitation provisions must be strictly applied and penalty cannot be imposed after expiry of that period. The tribunal also noted that the alleged default arose from a disallowance treated as interest-related expenditure, yet the reference for penalty was made after an inordinate 18-month delay. That delay was found to defeat the object of section 275(1)(c), and the penalty order, as well as the appellate affirmation, was set aside and the penalty deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
