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...
Penalty order u/s 129(3) - penalty order subsequent to search and seizure of the godown - In light of the above precedent and considering the facts of the present case, the High Court finds that the penalty proceedings initiated against the petitioner are not justified. Therefore, the impugned orders are quashed and set aside.
Penalty order u/s 129(3) - penalty order subsequent to search and seizure of the godown - In light of the above precedent and considering the facts of the present case, the High Court finds that the penalty proceedings initiated against the petitioner are not justified. Therefore, the impugned orders are quashed and set aside.
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TaxTMI 
TaxTMI 
of 4915 
