Over-invoicing of export consignment would invite penalties and confiscation of consignment

Excise & Customs : Provisions of section 113(d) would get attracted and goods may be liable for confiscation when value of export goods in invoices is exaggerated

No tax on interest income if assessee hadn't charged any interest, pending litigation on recovery of

IT : Pending litigation for recovery of loans given to co-operative housing societies, interest income could not be brought to tax in hands of housing finance corporation

Denial of sec. 10(23C) relief was justified on failure of assessee to produce audited books of accou

IT: Where assessee-educational institution seeking approval for exemption under section 10(23C)(vi) failed to produce audited accounts and balance-sheet for relevant assessment year despite opportunities granted, approval was denied

Oppression plea of petitioner couldn't be rejected at the outset without giving a reasonable opportu

CL : When dispute in petition filed under section 397/398 was with regard to legal or illegal transfer of shares, petition could not be rejected at threshold without giving reasonable opportunity to parties to establish their case

No disallowance if employees’ contribution to PF was deposited by employer before due date of filing

IT: Even employees' contribution towards provident fund made by assessee/employer on or before due date of filing return under section 139 would be eligible for deduction under section 43B(b)