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...
Quantum of levy of penalty - petitioner points out that 100% penalty was imposed although the show cause notice was issued u/s 73 - The High Court held that, it is clear that such notices were issued under Section 73 and not under Section 74 of the TNGST Act. Therefore, the impugned order calls for interference as regards the imposition of penalty at 100% on the SGST dues. - Levy of penalty deleted.
Quantum of levy of penalty - petitioner points out that 100% penalty was imposed although the show cause notice was issued u/s 73 - The High Court held that, it is clear that such notices were issued under Section 73 and not under Section 74 of the TNGST Act. Therefore, the impugned order calls for interference as regards the imposition of penalty at 100% on the SGST dues. - Levy of penalty deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
