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...
Refusal of grant of interest on the amount deposited during investigation, which was subsequently found to be refundable - The Tribunal found that the amount deposited during investigation took the character of revenue deposit. Considering similar precedents and the compensatory nature of interest, the Tribunal allowed interest at a rate of 6% per annum from the date of deposit till the date of refund.
Refusal of grant of interest on the amount deposited during investigation, which was subsequently found to be refundable - The Tribunal found that the amount deposited during investigation took the character of revenue deposit. Considering similar precedents and the compensatory nature of interest, the Tribunal allowed interest at a rate of 6% per annum from the date of deposit till the date of refund.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
