Prosecution for Delayed Tax Payment Unreasonable Without Mens Rea When Full Liability with Interest Is Settled Prosecution for Delayed Tax Payment Unreasonable Without Mens Rea When Full Liability with Interest Is Settled Issue Whether criminal prosecution under Section 276C(2) for willful attempt to evade tax can be sustained when an assessee merely delays payment… Read More »
Revenue Precluded From Challenging 10 Per Cent Bogus Purchase Addition Having Accepted CIT(A) Order Issue Whether the Revenue is precluded from challenging the Tribunal’s estimation of bogus purchase additions at 10% when it did not file an appeal against the CIT(A)’s order restricting the addition to 12.5%. Facts Assessment Year: The dispute relates to Assessment… Read More »
Market Research Expenditure Incurred to Understand Consumer Behaviour and Improve Sales Strategy Constitutes Allowable Revenue Expenditure Issue Whether market research expenditure incurred in the normal course of business to evaluate consumer behaviour, improve marketing strategy, and drive sales constitutes allowable revenue expenditure under Section 37(1) of the Income-tax Act, 1961. Facts Expenditure Claimed: During Assessment… Read More »
Section 72A Disallowance Inapplicable as Restructuring Consideration Paid in Cash Was Not a Demerger Under Section 2(19AA) Issue Whether the provisions of Section 72A(4) regarding the allocation and carry-forward of unabsorbed losses in a demerger can be invoked when a court-approved restructuring scheme involves transfer of assets/liabilities for cash consideration rather than issuance of shares… Read More »
Failure to E-Verify Audit Report Form 10B Due to Inadvertence During COVID-19 Condoned Under CBDT Circular No. 16/2024 to Prevent Genuine Hardship to Charitable Trust Failure to E-Verify Audit Report Form 10B Due to Inadvertence During COVID-19 Condoned Under CBDT Circular No. 16/2024 to Prevent Genuine Hardship to Charitable Trust Issue Whether the delay by… Read More »
Prosecution Under Section 276CC Unwarranted When Final Regular Assessment Entitles Taxpayer to a Refund Prosecution Under Section 276CC Unwarranted When Final Regular Assessment Entitles Taxpayer to a Refund Issue Whether a criminal prosecution under Section 276CC for failure to furnish an income tax return under Section 148 is sustainable when the regular assessment results in… Read More »
Notice Signed on 31 March 2021 but Dispatched on 1 April 2021 Is Deemed Issued Post-Amendment Issue Whether a reassessment notice under Section 148 dated and digitally signed on 31 March 2021, but dispatched via the ITBA system on 1 April 2021, is deemed issued under the amended law requiring compliance with Section 148A. Facts… Read More »
Consolidated GST Show Cause Notice and Order Covering Multiple Financial Years Are Impermissible and Quashed Issue Whether issuing a single consolidated show-cause notice (SCN) and passing a consequential adjudication order covering multiple financial years is legally permissible under Section 74 read with Section 73 of the CGST/MGST Act. Facts The DGGI Nagpur issued a single… Read More »
Delay of Ten Months in Recording Satisfaction Note Involvalidates Section 153C Reassessment Notices Issue Whether a delay of nearly ten months in recording the satisfaction note by the Assessing Officer of the searched person after completing the search assessment invalidates the subsequent notices issued under Section 153C. Facts A search and seizure operation was conducted… Read More »
Reassessment Under Section 147 Based on Search Material Is Void as Section 153C Provisions Apply Exclusively Reassessment Under Section 147 Based on Search Material Is Void as Section 153C Provisions Apply Exclusively Issue Whether the Assessing Officer has jurisdiction to initiate reassessment proceedings under Section 147/148 based on material seized during a Section 132 search… Read More »