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...
Validity of assessment - Non service of notice u/s 143(2) - unless there is service of notice in accordance with provision under Section 282 of the Act separately specifying mode of service of notice, it cannot be treated as valid service of notice. - the service of notice under Section 143(2) of the Act, in our considered opinion is no service. Since the initiation of the proceeding is not in adherence to the prescribed rules, the entire proceeding is vitiated and hence quashed. Consequently, all action taken there under is bad. - AT
Validity of assessment - Non service of notice u/s 143(2) - unless there is service of notice in accordance with provision under Section 282 of the Act separately specifying mode of service of notice, it cannot be treated as valid service of notice. - the service of notice under Section 143(2) of the Act, in our considered opinion is no service. Since the initiation of the proceeding is not in adherence to the prescribed rules, the entire proceeding is vitiated and hence quashed. Consequently, all action taken there under is bad. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
