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...
Dishonor of Cheque - party to the transaction or not - specific stand taken by the petitioners is that they were not the partners of the firm even at the time of borrowal of loan and at the time of issuance of cheques - In the case on hand admittedly the petitioners were resigned from the first accused partnership firm as early as on 01.04.2014 and as such they are not liable to be punished for the offence under Section 138 of the Negotiable Instruments Act. - HC
Dishonor of Cheque - party to the transaction or not - specific stand taken by the petitioners is that they were not the partners of the firm even at the time of borrowal of loan and at the time of issuance of cheques - In the case on hand admittedly the petitioners were resigned from the first accused partnership firm as early as on 01.04.2014 and as such they are not liable to be punished for the offence under Section 138 of the Negotiable Instruments Act. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
