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...
Imposition of redemption fine and penalty - import of Kiwi Fruits - undervaluation - the appellant has incurred huge loss due to demurrage charges etc. as the goods have been ordered to be re-exported. The goods are of perishable nature. Since they are ordered to be re-exported, the redemption fine imposed is without any basis and requires to be set aside - AT
Imposition of redemption fine and penalty - import of Kiwi Fruits - undervaluation - the appellant has incurred huge loss due to demurrage charges etc. as the goods have been ordered to be re-exported. The goods are of perishable nature. Since they are ordered to be re-exported, the redemption fine imposed is without any basis and requires to be set aside - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
