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Opportunity of Hearing must be given before taking Penal action under Customs Brokers Licensing Regulations: Calcutta HC [Read Order]

The single bench of the Calcutta High Court has held that an opportunity of hearing must be given before taking penal action under Customs Brokers...

No Recovery of Central Excise Duty, Interest, and Penalty without service of Adjudication Order:...

Law does not Mandate Customs Broker to Physically Verify Address, Verification based on GSTIN is...

No Service Tax on Ocean Freight Charges under the head ‘BAS’: CESTAT [Read Order]

Penalty u/s 271(1)(c) not applicable when Income Computed on Estimated Basis: ITAT [Read Order]

Double Penalty for Non-Linking of PAN-Aadhaar, TDS on Cryptos: Three Major Income Tax Changes from July

1st July 2022 was a significant day for the taxpayers as some new important changes have been made in the Income Tax Act, 1961 which may affect the taxpayer’s life significantly. Non-linking of...

Demand of Tax, Interest, and Penalty in Form DRC-01A without issue of Notice u/s 74(1) TNGST Act: Madras HC sets aside Assessment Order [Read Order]

The Madurai Bench of Madras High Court presided by Mr. Justice M. Nirmal Kumar has held that demand of tax, interest, and penalty in Form DRC-01A without the issue of notice u/s 74(1) Tamil Nadu...

Mere Disallowance of Claim u/s 54F will not attract Penalty u/s 271(1)(c): ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench has held that mere disallowance of the claim under section 54F will not attract a penalty u/s 271(1)(c). During assessment proceedings, the...

No Penalty on Confiscated Gold Bar in the presence of Cogent Evidence: CESTAT [Read Order]

The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Delhi bench held that no penalty arises on a confiscated gold bar in the presence of cogent evidence. The appellant was...

CESTAT upholds Penalty of Chairman/MD on Failure to ensure Proper Accounting of Finished Goods [Read Order]

The Ahmedabad Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has upheld the penalty of the Chairman/Managing Director since he failed to ensure proper accounting of finished...

Penalty u/s 271 will not sustain on Unintentional failure in Disclosure of Income: ITAT [Read Order]

The Income Tax Appellate Tribunal, Ahmedabad bench has held that penalty u/s 271 will not sustain on unintentional failure in disclosure of income. The appellant was represented by Shri P.F. Jain...

Non-Maintenance of Books of Account would not attract Penalty u/s 271B: ITAT grants Relief to Developer [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Waseem Ahmed, Accountant Member, and Madhumita Roy, Judicial Member granted relief to Developer as non-maintenance of Books of...

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