Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
For penalty proceedings under section 270A, a show cause notice alleging misreporting must disclose the specific factual basis and category of misreporting so the taxpayer can respond meaningfully. Misreporting is treated as under-reporting involving bad faith, attracts a higher penalty, and precludes immunity; therefore, a bare allegation is insufficient. The notes state that notices and the penalty order merely asserted misreporting without particulars or reasons, and that the tax sought to be evaded required reconsideration. The High Court set aside the penalty order as unsustainable, while permitting fresh proceedings in accordance with law and leaving all contentions open.
For penalty proceedings under section 270A, a show cause notice alleging misreporting must disclose the specific factual basis and category of misreporting so the taxpayer can respond meaningfully. Misreporting is treated as under-reporting involving bad faith, attracts a higher penalty, and precludes immunity; therefore, a bare allegation is insufficient. The notes state that notices and the penalty order merely asserted misreporting without particulars or reasons, and that the tax sought to be evaded required reconsideration. The High Court set aside the penalty order as unsustainable, while permitting fresh proceedings in accordance with law and leaving all contentions open.
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