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...
Scope of SCN - impugned order proceeds on a completely different basis from the SCN - Entitlement to ITC - The High Court observed a clear disparity between the initial show cause notice and the final order. While the notice alleged sales suppression and proposed a specific tax liability, the order imposed a significantly higher amount without justification. Notably, the impugned order did not rely on sales suppression as a basis for its decision, raising questions about the rationale behind the increased tax liability. Consequently, the Court set aside the impugned order.
Scope of SCN - impugned order proceeds on a completely different basis from the SCN - Entitlement to ITC - The High Court observed a clear disparity between the initial show cause notice and the final order. While the notice alleged sales suppression and proposed a specific tax liability, the order imposed a significantly higher amount without justification. Notably, the impugned order did not rely on sales suppression as a basis for its decision, raising questions about the rationale behind the increased tax liability. Consequently, the Court set aside the impugned order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
