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...
Insolvency and BankruptcyFebruary 29, 2024Case LawsAT
Condonation of delay in filing the Appeal - The Tribunal observed that their jurisdiction to condone the delay was limited to 15 days after the expiry of the limitation under Section 61(2) proviso. As the certified copy was applied for on 23rd November, 2023, well beyond the permissible period, the Tribunal concluded that no benefit under Section 12 of the Limitation Act could be allowed. Therefore, the delay condonation application was dismissed, and the Memo of Appeal was rejected.
Condonation of delay in filing the Appeal - The Tribunal observed that their jurisdiction to condone the delay was limited to 15 days after the expiry of the limitation under Section 61(2) proviso. As the certified copy was applied for on 23rd November, 2023, well beyond the permissible period, the Tribunal concluded that no benefit under Section 12 of the Limitation Act could be allowed. Therefore, the delay condonation application was dismissed, and the Memo of Appeal was rejected.
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