Section 153C requires person-specific search authority and year-specific incriminating material for unabated assessments while preventing unsupported ...
Equivalent-value attachment can reach pre-existing assets, but jointly owned property remains protected beyond the accused's attributable proceeds of ...
Pre-registration physical verification becomes mandatory to prevent non-existent business registrations and support timely GST registration processing...
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Under-reporting and misreporting of income attract distinct penalty treatment: under-reporting is penalised at 50% of the tax payable, while under-reporting resulting from misreporting attracts 200% only where specified factual circumstances establish misreporting. Omission of interest income constituted under-reporting, but non-resident status, reliance on an accountant, limited technological knowledge, and later payment of tax and interest did not establish deliberate misreporting. Departmental detection and non-response to notices alone were insufficient for the enhanced penalty. The penalty was therefore restricted to under-reporting, with recomputation. Statutory and show-cause notices, along with opportunities to respond during penalty proceedings, satisfied hearing requirements where the taxpayer did not use those opportunities.
Under-reporting and misreporting of income attract distinct penalty treatment: under-reporting is penalised at 50% of the tax payable, while under-reporting resulting from misreporting attracts 200% only where specified factual circumstances establish misreporting. Omission of interest income constituted under-reporting, but non-resident status, reliance on an accountant, limited technological knowledge, and later payment of tax and interest did not establish deliberate misreporting. Departmental detection and non-response to notices alone were insufficient for the enhanced penalty. The penalty was therefore restricted to under-reporting, with recomputation. Statutory and show-cause notices, along with opportunities to respond during penalty proceedings, satisfied hearing requirements where the taxpayer did not use those opportunities.
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