Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
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.
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