Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
Section 270A penalty for misreporting income was deleted where failure to file the original return was unintentional and resulted from severe personal and professional hardship. Salary income had already been subjected to tax deduction at source and was available in departmental records. The assessee disclosed that income in response to reassessment proceedings, and the reassessment accepted the returned income. These facts established reasonable cause and supported immunity from penalty despite non-filing of the original return.
Section 270A penalty for misreporting income was deleted where failure to file the original return was unintentional and resulted from severe personal and professional hardship. Salary income had already been subjected to tax deduction at source and was available in departmental records. The assessee disclosed that income in response to reassessment proceedings, and the reassessment accepted the returned income. These facts established reasonable cause and supported immunity from penalty despite non-filing of the original return.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4910 
