NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings  ||  Delhi High Court: In Matters of Medical Evaluation, Courts Should Exercise Restraint  ||  Delhi HC: Any Person in India Has Right to Legally Import Goods from Abroad and Sell the Same  ||  Delhi HC: Waiver to Section 12(5) of Arbitration Act to be Given Once Tribunal is Constituted  ||  Supreme Court Has Asked States to Regularise Existing Court Managers  ||  SC: Union & States to Create Special POSCO Courts on Top Priority  ||  SC Upholds Authority of CERC to Award Compensation for Delays  ||  SC: Arbitral Tribunal Has Discretion to Include in Sum Awarded, Interest at Rate as it Deems Reasonab  ||  SC: Cannot Use Article 142 to Frame Guidelines on Judicial Recusal  ||  SC: Satisfaction Recorder in One EP Won’t Affect Subsequent EPs for Future Breaches    

Del. HC: Revenue Needs to Spell Out Clear Ground for Initiating Penalty Proceedings - (26 Nov 2024)

DIRECT TAXATION

Del. HC has stated that ‘Concealment of income’ & ‘furnishing of inaccurate particulars’ of income u/s 271(1) (c) of IT Act carry different meanings. If penalty proceedings are to be initiated by Revenue then specific ground which forms the foundation thereof needs to be spelt out in clear terms.

Tags : DELHI HIGH COURT   PENALTY PROCEEDINGS   CONCEALMENT OF INCOME  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved