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 confiscation and detention of goods - detention on the ground that manufacturer sells his products to its customer or dealer at a price lower than the MRP - intent to evade tax or not - it is a settled legal position that undervaluation cannot be a ground for seizure of goods in transit by the inspecting authority. - The confiscation proceedings initiated by the respondents are hereby quashed and set aside - HC
Validity of confiscation and detention of goods - detention on the ground that manufacturer sells his products to its customer or dealer at a price lower than the MRP - intent to evade tax or not - it is a settled legal position that undervaluation cannot be a ground for seizure of goods in transit by the inspecting authority. - The confiscation proceedings initiated by the respondents are hereby quashed and set aside - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
