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...
Valuation - Sale of vehicles - Demand of differential amount of token tax/fees of the vehicles sold - Any clarification issued by the department to a notification cannot have retrospective effect - the department issued the clarification on 26.11.2019. It is not in dispute that after the issuance of the aforesaid clarification the token tax is being calculated on the value of the vehicle including the amount of GST. - The impugned notices directing the petitioner to deposit the differential amount of tax / GST for the period from 03.08.2019 to 26.11.2019, are set aside. - HC
Valuation - Sale of vehicles - Demand of differential amount of token tax/fees of the vehicles sold - Any clarification issued by the department to a notification cannot have retrospective effect - the department issued the clarification on 26.11.2019. It is not in dispute that after the issuance of the aforesaid clarification the token tax is being calculated on the value of the vehicle including the amount of GST. - The impugned notices directing the petitioner to deposit the differential amount of tax / GST for the period from 03.08.2019 to 26.11.2019, are set aside. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
