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...
Authority under the Customs Act to proceed against the property of a third party - Prohibition of Benami Property Transactions - The High Court emphasizes that respondent No. 2 cannot question the petitioner’s ownership of the flat, even if it was purchased by her husband. Referring to Section 3 of the Prohibition of Benami Property Transactions Act, 1988, the court states that only the husband could question the petitioner’s ownership, and any such dispute should be resolved in a civil court. - The High Court finds that respondent No. 2 lacked jurisdiction to issue the communication under the Customs Act. There is no provision allowing customs officials to attach the property of a third party, such as the petitioner, who is not connected to any recovery under the Customs Act.
Authority under the Customs Act to proceed against the property of a third party - Prohibition of Benami Property Transactions - The High Court emphasizes that respondent No. 2 cannot question the petitioner’s ownership of the flat, even if it was purchased by her husband. Referring to Section 3 of the Prohibition of Benami Property Transactions Act, 1988, the court states that only the husband could question the petitioner’s ownership, and any such dispute should be resolved in a civil court. - The High Court finds that respondent No. 2 lacked jurisdiction to issue the communication under the Customs Act. There is no provision allowing customs officials to attach the property of a third party, such as the petitioner, who is not connected to any recovery under the Customs Act.
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TaxTMI 
TaxTMI 
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