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 BankruptcyMarch 30, 2024Case LawsAT
Rejection of Section 7 application - The appellate tribunal overturned the adjudicating authority's decision to dismiss the Section 7 application due to non-compliance with previous orders. It emphasized the appellant's efforts to comply and highlighted the respondent's failure to fulfill their obligations despite appearing through counsel. As a result, the tribunal revived the Section 7 application for further proceedings.
Rejection of Section 7 application - The appellate tribunal overturned the adjudicating authority's decision to dismiss the Section 7 application due to non-compliance with previous orders. It emphasized the appellant's efforts to comply and highlighted the respondent's failure to fulfill their obligations despite appearing through counsel. As a result, the tribunal revived the Section 7 application for further proceedings.
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