Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
Appellate enhancement limits protect against new income sources, while documented credits and prior-year investments resist unexplained-income additio...
Reassessment proceedings alleging fictitious mutual-fund losses and dividend income were quashed where the taxpayer was identically situated to one covered by a final earlier decision and the Revenue did not dispute its applicability. The order under section 148A(d) and the notice under section 148 were set aside because the earlier ruling had already quashed materially similar reassessment action on identical facts.
Reassessment proceedings alleging fictitious mutual-fund losses and dividend income were quashed where the taxpayer was identically situated to one covered by a final earlier decision and the Revenue did not dispute its applicability. The order under section 148A(d) and the notice under section 148 were set aside because the earlier ruling had already quashed materially similar reassessment action on identical facts.
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TaxTMI 
TaxTMI 
of 4878 
