Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, a declaration lapsed when the declarant failed to pay the amount in Form SVLDRS-3 within the prescribed 30 days; the Tribunal applied the plain meaning of the Scheme and held that no equitable or purposive relief could override the statutory time limit. The belated payment made after the extended last date did not preserve the amnesty benefit, so the service tax demand and interest were sustained. Penalty was, however, set aside because the delay occurred during the COVID period and there was no finding of mala fide intent.
Under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, a declaration lapsed when the declarant failed to pay the amount in Form SVLDRS-3 within the prescribed 30 days; the Tribunal applied the plain meaning of the Scheme and held that no equitable or purposive relief could override the statutory time limit. The belated payment made after the extended last date did not preserve the amnesty benefit, so the service tax demand and interest were sustained. Penalty was, however, set aside because the delay occurred during the COVID period and there was no finding of mala fide intent.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
