Income Tax : The Tribunal held that penalty under Section 271DA cannot be imposed when the assessment order lacks recorded satisfaction of a 26...
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Income Tax : It has also been decided that the restriction on cash transaction under section 269ST shall not apply to withdrawal of cash from ...
Income Tax : Penalty under section 271DA could not be sustained merely on the basis of unverified seized data without independent corroborative...
Income Tax : The ITAT held that penalty under Section 271DA cannot be sustained where the Assessing Officer failed to record a clear and consci...
Income Tax : ITAT Delhi deleted penalties imposed for alleged cash transactions after holding that the electronic evidence relied upon by the R...
Income Tax : Gujarat High Court held that reassessment proceedings based on loose papers referring to non-agricultural land could not justify r...
Income Tax : The Tribunal held that consolidated Excel entries showing aggregate cash sales were insufficient to establish receipt of ₹2 lakh...
Income Tax : Circular No. 22 of 2017 F.No.370142/10/2017-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Di...
Penalty under section 271DA could not be sustained merely on the basis of unverified seized data without independent corroborative evidence. Revenue must conclusively establish violation of section 269ST, and where assessee had disclosed the income and paid due taxes, penalty was not automatic and must satisfy the test of reasonableness and statutory conditions.
The ITAT held that penalty under Section 271DA cannot be sustained where the Assessing Officer failed to record a clear and conscious satisfaction regarding violation of Section 269ST in the assessment order. The ruling reiterates that such satisfaction is a mandatory jurisdictional requirement.
ITAT Delhi deleted penalties imposed for alleged cash transactions after holding that the electronic evidence relied upon by the Revenue was inadmissible in law. The Tribunal observed that mandatory procedures relating to digital evidence handling and chain of custody were not properly followed.
Gujarat High Court held that reassessment proceedings based on loose papers referring to non-agricultural land could not justify reopening where assessee had sold agricultural land. Court ruled that alleged escapement of income was based only on hypothesis and conjecture.
The Tribunal held that consolidated Excel entries showing aggregate cash sales were insufficient to establish receipt of ₹2 lakh or more in a single transaction, and penalty under Section 271DA could not be sustained.
The issue was whether multiple medical bills constituted a single transaction under Section 269ST. The Tribunal held that separately billed services are independent transactions, so penalty was not justified.
The tribunal examined whether penalties could continue when the fresh assessment order did not record satisfaction for initiating them. It ruled that absence of such satisfaction makes the penalties invalid in law.
The Court issued notice in a plea to quash criminal proceedings where the applicant argued that alleged cash payments exceeding ₹2 lakh should first be examined under Section 269ST of the Income Tax Act.
The Tribunal held that penalty under Section 271DA cannot be imposed when the assessment order lacks recorded satisfaction of a 269ST violation. The ruling confirms that satisfaction by the Assessing Officer is a mandatory precondition.
ITAT Delhi ruled that penalties under section 271DA cannot be levied without the AO recording satisfaction in the assessment order, following Supreme Court precedent.
