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...
Default in not depositing the TDS amount, as deducted, with the government - The High court underscored the mandatory nature of issuing TDS certificates or ensuring the deposit of deducted amounts with the government treasury promptly. - The High Court determined that JBVNL's retention of the tax deducted, under the guise of awaiting the appeal's outcome, was unauthorized and constituted an illegal withholding of funds. As such, the court directed JBVNL to release the withheld amount along with interest and imposed costs for what was deemed a frivolous defense.
Default in not depositing the TDS amount, as deducted, with the government - The High court underscored the mandatory nature of issuing TDS certificates or ensuring the deposit of deducted amounts with the government treasury promptly. - The High Court determined that JBVNL's retention of the tax deducted, under the guise of awaiting the appeal's outcome, was unauthorized and constituted an illegal withholding of funds. As such, the court directed JBVNL to release the withheld amount along with interest and imposed costs for what was deemed a frivolous defense.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
