NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Penalty under section 270A was deleted because the assessee had made a deduction claim under section 80GGC, and the Assessing Officer had examined that claim; mere disallowance of the deduction did not, on these facts, establish under-reporting or misreporting. The Tribunal also held the penalty order unsustainable because it did not specify the applicable limb of section 270A or set out the particulars required to satisfy sub-section (9). As the statutory basis and necessary ingredients were not properly identified, the penalty could not be sustained.
Penalty under section 270A was deleted because the assessee had made a deduction claim under section 80GGC, and the Assessing Officer had examined that claim; mere disallowance of the deduction did not, on these facts, establish under-reporting or misreporting. The Tribunal also held the penalty order unsustainable because it did not specify the applicable limb of section 270A or set out the particulars required to satisfy sub-section (9). As the statutory basis and necessary ingredients were not properly identified, the penalty could not be sustained.
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