Prosecution under Section 276CC Is Impermissible and Liable to Be Quashed When No Tax Is Outstanding Due to Prepaid TDS Prosecution under Section 276CC Is Impermissible and Liable to Be Quashed When No Tax Is Outstanding Due to Prepaid TDS Issue Whether criminal prosecution under Section 276CC for failure to furnish a return of income… Read More »
Penalty Under Section 271B Is Sustainable When Failure to Audit Accounts Is Backed by Reasonable Cause Issue Whether penalty under Section 271B for failure to get accounts audited under Section 44AB can be sustained when the assessee demonstrates reasonable cause under Section 273B and the return of income is accepted without any addition. Facts Business… Read More »
Penalty Under Section 270A Is Unsustainable Once Underlying Assessment Order and FTS Adjustment Are Quashed Penalty Under Section 270A Is Unsustainable Once Underlying Assessment Order and FTS Adjustment Are Quashed Issue Whether a penalty under Section 270A for misreporting of income can be sustained when the underlying assessment order and Fee for Technical Services (FTS)… Read More »
Recharacterization of Capital Gains as Dividend With Reduced Tax Liability Does Not Warrant Penalty Under Section 270A Issue Whether initiation of penalty proceedings under Section 270A for under-reporting or misreporting of income is legally sustainable when the recharacterization of capital gains into dividend income by the Assessing Officer results in no increase in total assessed… Read More »
Assessment Orders Passed Ex Parte Against a Deceased Assessee Warrant Remand to AO for Fresh Adjudication Issue Whether ex parte assessment and appellate orders passed due to non-representation by a deceased assessee should be set aside and remanded to the Assessing Officer for fresh adjudication to uphold the principles of natural justice. Facts Ex Parte… Read More »
Sole Executor Administering Deceased Estate Must Be Assessed as an Individual at Normal Slab Rates Issue Whether the income of a deceased person’s estate administered by a sole executor should be assessed in the hands of the executor as an individual at normal slab rates under Section 168, rather than as an Artificial Juridical Person… Read More »
Invocation of Section 153A Beyond Six Years Is Void Without Identifiable Asset Under Explanation 2 Invocation of Section 153A Beyond Six Years Is Void Without Identifiable Asset Under Explanation 2 Issue Whether the assumption of jurisdiction under Section 153A beyond the ordinary six-year block is legally sustainable when the seized material fails to establish that… Read More »
Orders Issued Electronically Without Initial DIN Are Valid If Subsequently Communicated With Correct DIN Issue Whether DRP directions and revisional orders under Section 263 initially communicated electronically without a Document Identification Number (DIN)—or containing a minor typographical error in the manually written DIN—are invalid under CBDT Circular No. 19/2019, when DINs were later generated and… Read More »
Filing Objections Only With Assessing Officer Invalidates DRP Claims and Mandates Statutory Appeal Under Section 246A Issue Whether the failure to file draft assessment order objections simultaneously with both the Dispute Resolution Panel (DRP) and the Assessing Officer under Section 144C(2)(b) permits the Assessing Officer to finalize assessment under Section 144C(3), and whether a writ… Read More »
Inadvertent Filing of Form 10-IF Under Section 115BAD Allows Recomputation of Taxable Income Under Old Regime Inadvertent Filing of Form 10-IF Under Section 115BAD Allows Recomputation of Taxable Income Under Old Regime Issue Whether a co-operative society that mistakenly exercised the option under Section 115BAD by filing Form 10-IF is entitled to have its taxable… Read More »