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...
Validity of Assessment order as time barred - delay dispatching assessment order - The Tribunal, after considering the submissions and relevant precedents, concluded that the assessment order was indeed time-barred due to being dispatched after the prescribed time limit. As a result, the Tribunal set aside the assessment order. Consequently, the Tribunal did not delve into the other issues raised by the assessee.
Validity of Assessment order as time barred - delay dispatching assessment order - The Tribunal, after considering the submissions and relevant precedents, concluded that the assessment order was indeed time-barred due to being dispatched after the prescribed time limit. As a result, the Tribunal set aside the assessment order. Consequently, the Tribunal did not delve into the other issues raised by the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
