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...
Valuation of imported goods - Brand New Azimut 68 Motor Yacht with Accessories - the appellant had not submitted any documentary evidences with regard to the purchase of the said goods and accordingly, the determination of the value of such goods under Rule 9 ibid is justified and thus, cannot be interfered with at this juncture. Therefore, the differential duty along with interest in the impugned order on the said goods is proper and justified and are liable for confiscation under Section 111 (l) ibid. - AT
Valuation of imported goods - Brand New Azimut 68 Motor Yacht with Accessories - the appellant had not submitted any documentary evidences with regard to the purchase of the said goods and accordingly, the determination of the value of such goods under Rule 9 ibid is justified and thus, cannot be interfered with at this juncture. Therefore, the differential duty along with interest in the impugned order on the said goods is proper and justified and are liable for confiscation under Section 111 (l) ibid. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
