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...
CIRP Proceedings under IBC versus Tax Dues / Statutory Dues - The High court noted that NCLT should have been cautious before approving the Corporate Insolvency Resolution Plan and could have imposed penalties for the fraudulent initiation of proceedings. The court emphasized that statutory dues cannot be waived off merely by an insolvency resolution process and must be settled as per law.
CIRP Proceedings under IBC versus Tax Dues / Statutory Dues - The High court noted that NCLT should have been cautious before approving the Corporate Insolvency Resolution Plan and could have imposed penalties for the fraudulent initiation of proceedings. The court emphasized that statutory dues cannot be waived off merely by an insolvency resolution process and must be settled as per law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
