Penalty was visited by AO upon the assessee on the mere ...

Tax Board Overturns Penalty on Assessee for Discrepancy in Goods Valuation; No Illegality Found in Decision.

March 19, 2013

Case Laws VAT and Sales Tax HC

Penalty was visited by AO upon the assessee on the mere discrepancy of value of goods in documents accompanying the goods - Tax Board has not committed any illeglaity in setting aside penalty orders. - HC

View Source

← Previous Next →

Penalty was visited by AO upon the assessee on the mere ...

Tax Board Overturns Penalty on Assessee for Discrepancy in Goods Valuation; No Illegality Found in Decision.

March 19, 2013

Case Laws VAT and Sales Tax HC

You may also like:

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

Levy of penalties u/ss 122 and 129 of CGST/SGST Acts - expiry of e-way bill - mens rea in penalty imposition. Technically, violation of law by petitioner in transporting...

Assessee failed to justify receipt discrepancy between ITR and Form 26AS, AO made addition considering it as fees for technical services and imposed penalty u/s 270A for...

Evasion of tax - mismatch in the e-way bill and the branch transfer invoice - levy of penalty and tax on the petitioner - The High Court observed that, even if there was...

Levy of penalty u/s 129(5) of GST Act for discrepancy between PIN code of petitioner in Tax Invoices and E-Way Bill. Court held minor discrepancy in PIN code in GST...

The Commissioner of Income Tax (CIT) directed the Assessing Officer (AO) to compute the assessee's income by adding the difference in valuation of shares u/s 56(2)(viib)....

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

HC upheld detention of goods and vehicle under Sec 129 of WBGST Act. Discrepancies between declared description and physical verification of goods, valuation gap...

Addition u/s 69 r.w.s. 115BBE - Higher rate of tax treating the surrendered income as unexplained investment / income - Amount surrendered during a survey due to stock...

Non-compliance with provisions of the Goods and Services Tax Act, specifically Section 74(1) of the Central/Bihar Goods and Services Tax Act, 2017, was raised regarding...

The assessee objected to the valuation report prepared by the district valuation officer and the stamp duty rate. The assessing officer referred the matter to the...

HC ruled on penalty u/s 271(1)(c) regarding book profit discrepancies. The court found that the assessee, a government entity, voluntarily disclosed income mismatches...

Levy of penalty - goods were undervalued - The High Court, after careful consideration of legal precedents and statutory provisions, ruled in favor of the petitioner. It...

Eligibility for Input Tax Credit - Failure to report outward supply - The objection of the petitioner is that most of these items do not fall within the reverse charge...

Goods and services Tax - Rates of Tax for goods and Services - Schedule wise and item wise

Quick Updates: