Once the company has admitted the undervaluation and has paid ...

Customs

June 23, 2017

Once the company has admitted the undervaluation and has paid the penalty, the appellant who is the Director of the company and also looking after the affairs of the company is equally responsible and therefore imposing the penalty on the appellant is absolutely lawful.

View Source

← Previous Next →

Once the company has admitted the undervaluation and has paid ...

Customs

June 23, 2017

You may also like:

Penalty u/s 271AAA(2) - assessee has admitted to have earned unaccounted commission income during the course of search proceedings - he has paid due taxes along with...

Deletion of Penalty u/s 271AAA - the assessee had paid tax along with interest on undisclosed income admitted during the course of search - penalty deleted - AT

Allowable expenditure u/s 37(1) - Settlement charges paid to SEBI - penalty paid for infraction of law - payment was made without admitting or denying the guilt - claim...

Penalty u/s 271 - validity of assessment proceedings can be looked into during the penalty proceedings even though the assessment itself has not been challenged by the assessee.

Penalty under section 77(c) on Director - delay in payment of service tax - No provision for imposing personal penalty on the Director - AT

Disallowance of commission paid to Managing Director and Working Director - it cannot be doubted that the payment of dividend was made in the guise of commission to the directors.

Rent paid by director of the company in her individual capacity - directors serve as agents - any transaction carried out by the directors on behalf of the company is a...

Penalty u/s 271AAA - There will not be any penalty to the extent of undisclosed income admitted during search - immunity available under sub-clause (2) of section 271AAA

Valuation - inclusion of reimbursement of expenses - Apparently, there is no reimbursement on actual basis and the exclusion under the category of 'reimbursement...

Valuation - exclusion of cost of goods – Board’s circular dated 20.06.2003 – Notification No. 12/2003-ST - The exemption notification is clear and admits of no...

Quick Updates: