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...
Order u/s 197 refusing to grant a certificate of tax deduction at source at Nil rate - Perusal of Rule 28AA of the Income Tax Rules shows that the considerations prescribed under clause (2) are mandatory and the department is bound to determine the yearly TDS rates on the four parameters prescribed therein. - It is settled law that the Government is bound to follow the rules and standards they themselves had set on pain of their action being invalidated. In the present case, the assessing officer has not followed the aforesaid rule as there is no reference in the impugned reason to any computation carried out under Rule 28AA. - HC
Order u/s 197 refusing to grant a certificate of tax deduction at source at Nil rate - Perusal of Rule 28AA of the Income Tax Rules shows that the considerations prescribed under clause (2) are mandatory and the department is bound to determine the yearly TDS rates on the four parameters prescribed therein. - It is settled law that the Government is bound to follow the rules and standards they themselves had set on pain of their action being invalidated. In the present case, the assessing officer has not followed the aforesaid rule as there is no reference in the impugned reason to any computation carried out under Rule 28AA. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
