The Revenue treated seized cash entries as unexplained income under Section 69A. The Tribunal ruled that receipts from agricultural activities are exempt and cannot be taxed merely based on seized notings.
Authorities held that non-attachment of the Board’s Report to annual financial statements violates Section 134. The company and its directors were penalised due to complete non-response to statutory notices.
Failure to comply with statutory requirements for financial statements resulted in penalties under Section 134(8). Directors were held personally liable due to lack of response to the show cause notice.
ROC imposed penalty for failure to file mandatory DIR-3 KYC, leading to DIN deactivation. The order reinforces strict compliance with director KYC requirements to avoid maximum penalties.
The adjudicating authority held that non-filing of Form SH-7 violated Section 64 of the Companies Act. Penalties were imposed on the company and the officer in default despite claims of technical issues.
The Tribunal held that penalty cannot survive where sales were already offered to tax and later added again under section 68. The key takeaway is that double taxation cannot result in penalty when no tax was sought to be evaded.
The Tribunal held that gratuity liability transferred to another employer on employee transfer constitutes valid discharge. Deduction cannot be denied merely because payment was not made directly to the employee.
The issue was whether final DRP-based assessments passed beyond statutory timelines are valid. The Tribunal held that limitation under Section 144C must be read with Section 153, rendering delayed final orders void.
The tax authorities denied Section 54 relief citing delay in completing construction. The Tribunal ruled that Section 54 is a beneficial provision and does not mandate full completion within three years.
The Tribunal held that a registered JV agreement with possession in 2011 constituted transfer under section 2(47). Capital gains could not be taxed in AY 2017-18 and had to be aligned to the correct year.
