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...
Levy of penalty - Area based exemption - allegation of incorrect valuation of final products cleared to related parties - Admittedly, when there is no blanket refund in view of the amending Notification dated 27.03.2008, there is no case of complete revenue neutrality and hence, does not advance the case of the appellant assessee to plead for waiver of penalty in the given factual matrix of the case. - AT
Levy of penalty - Area based exemption - allegation of incorrect valuation of final products cleared to related parties - Admittedly, when there is no blanket refund in view of the amending Notification dated 27.03.2008, there is no case of complete revenue neutrality and hence, does not advance the case of the appellant assessee to plead for waiver of penalty in the given factual matrix of the case. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
