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...
Reduction in penalty imposed - Validity of order passed by CESTAT - The maximum possible penalty was ₹ 15.30 crores but the adjudicating authority imposed a total penalty of ₹ 1.75 crores. The CESTAT has reduced penalty to ₹ 12 lacs without assigning any clear and cogent reasons much less reference to any relevant facts or law. - HC
Reduction in penalty imposed - Validity of order passed by CESTAT - The maximum possible penalty was ₹ 15.30 crores but the adjudicating authority imposed a total penalty of ₹ 1.75 crores. The CESTAT has reduced penalty to ₹ 12 lacs without assigning any clear and cogent reasons much less reference to any relevant facts or law. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
