S. 271G : Penalty-Documents-International transaction-Transfer pricing-Diamond business-Maintaining primary books of account and documents-Transactions accepted to be at Arm’s Length-Failure by Transfer Pricing Officer to determine Arm’s Length Price independently by applying one of prescribed methods-Deletion of penalty is justified.
S. 271(1)(c) : Penalty-Concealment-Ad hoc disallowance-Penalty is not sustainable.
S. 271(1)(c) : Penalty-Concealment-Ad hoc disallowance-Penalty is not sustainable.
S. 271(1)(c) : Penalty-Concealment-Denial of exemption u/s 11-High Court admitted the appeal-Not specifying the specific limb of section 271(1)(c)-Penalty not leviable. [S. 11. 13, 260A]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Show cause notice and discussion restricted too share application money-Reassessment order not erroneous and prejudicial to revenue-Revision order was quashed. [S. 68, 147, 148]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Reassessment-Revision notice a verbatim copy of reasons recorded by Assessing Officer for reopening assessment-Assessing Officer Accepting returned income after verifying explanation-Revision by PCIT not sustainable. [S. 143(3), 147]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Proceedings for rectification was dropped-Revision based on audit objection-Revision is not sustainable. [S. 24B, 154]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Interest expenditure allowed after conducting enquiry-Revision is held to be not valid. [S. 143(3)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Set off of brought forward business loss-No excess unabsorbed depreciation allowed while computing book Profit-Issue of show-cause notice beyond period of two years from date of original assessment Order-Revision barred by limitation-Revision quashed. [S. 115JB]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Mistake committed by consultant in declaring wrong turnover in service tax returns-Assessing Officer making addition of profit element embedded in undisclosed receipts at 8 Per Cent.-Order of revision not valid. [S. 143(3)]