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...
Blocked input tax credit - issuance of credit notes by the supplier - denial of Input Tax Credit with regard to certain inputs - Both parties presented their arguments, with the petitioner emphasizing the provision of evidence supporting their claims. The Court found discrepancies in the assessing officer's conclusions and noted the lack of explicit reasons for denying Input Tax Credit. Consequently, the impugned order was set aside on all three issues and remanded for re-consideration, with directions for providing the petitioner with a reasonable opportunity to present their case.
Blocked input tax credit - issuance of credit notes by the supplier - denial of Input Tax Credit with regard to certain inputs - Both parties presented their arguments, with the petitioner emphasizing the provision of evidence supporting their claims. The Court found discrepancies in the assessing officer's conclusions and noted the lack of explicit reasons for denying Input Tax Credit. Consequently, the impugned order was set aside on all three issues and remanded for re-consideration, with directions for providing the petitioner with a reasonable opportunity to present their case.
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TaxTMI 
TaxTMI 
of 4916 
