Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Penalty proceedings under section 270A require a clear sequential charge: the Assessing Officer must first identify under-reporting and then specify whether it is attributable to a particular form of misreporting. Where the notice alleged only under-reporting but the penalty order proceeded on under-reporting in consequence of misreporting, without stating the exact statutory clauses invoked, the proceedings were held invalid for breach of natural justice. Independently, the assessee's reliance on Form 16 showing the amount as exempt, together with full disclosure of material facts, was accepted as a bona fide explanation falling within section 270A(6)(a), supporting deletion of the penalty.
Penalty proceedings under section 270A require a clear sequential charge: the Assessing Officer must first identify under-reporting and then specify whether it is attributable to a particular form of misreporting. Where the notice alleged only under-reporting but the penalty order proceeded on under-reporting in consequence of misreporting, without stating the exact statutory clauses invoked, the proceedings were held invalid for breach of natural justice. Independently, the assessee's reliance on Form 16 showing the amount as exempt, together with full disclosure of material facts, was accepted as a bona fide explanation falling within section 270A(6)(a), supporting deletion of the penalty.
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