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...
Insolvency and BankruptcyMarch 31, 2020Case LawsAT
CIRP Proceedings - scope of preferential transactions - It was submitted that the "corporate debtor" paid a sum of ₹ 2,50,00,000 towards part payment of principal amount to the appellant on October 29, 2016 which is more than one year before the commencement date of initiation of the "corporate insolvency resolution process", therefore, it cannot be termed to be "preferential transactions". - The contention rejected.
CIRP Proceedings - scope of preferential transactions - It was submitted that the "corporate debtor" paid a sum of ₹ 2,50,00,000 towards part payment of principal amount to the appellant on October 29, 2016 which is more than one year before the commencement date of initiation of the "corporate insolvency resolution process", therefore, it cannot be termed to be "preferential transactions". - The contention rejected.
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TaxTMI 
TaxTMI 
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