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...
Adjudicating Authority under FEMA - The High Court clarified that the Adjudicating Authority is not a persona designata, but a designation empowered by the Act. The court emphasized that the authority designated by the Central Government can continue proceedings even if the original appointee ceases to hold office. Therefore, the argument that only the issuing authority can adjudicate the case was rejected. - The court held that the term "the Adjudicating Authority" does not refer to a specific individual but to the authority designated within the pecuniary limits set by the notification. Thus, the contention that only the issuing authority can adjudicate was dismissed.
Adjudicating Authority under FEMA - The High Court clarified that the Adjudicating Authority is not a persona designata, but a designation empowered by the Act. The court emphasized that the authority designated by the Central Government can continue proceedings even if the original appointee ceases to hold office. Therefore, the argument that only the issuing authority can adjudicate the case was rejected. - The court held that the term "the Adjudicating Authority" does not refer to a specific individual but to the authority designated within the pecuniary limits set by the notification. Thus, the contention that only the issuing authority can adjudicate was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
