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...
In the ITAT Surat case, the appeal was delayed by 506 days. The issue was whether there was a "sufficient cause" for the delay, as claimed due to the receiver not opening the email with the order. The Chartered Accountant found the rejection while checking the ITBA portal. The Tribunal held that the delay was inexcusable as the assessee showed negligence and lack of diligence. The casual approach towards registration rejection did not constitute "sufficient cause" u/s 253(5) of the Act. The delay was not condoned, making it unnecessary to discuss the case's merits.
In the ITAT Surat case, the appeal was delayed by 506 days. The issue was whether there was a "sufficient cause" for the delay, as claimed due to the receiver not opening the email with the order. The Chartered Accountant found the rejection while checking the ITBA portal. The Tribunal held that the delay was inexcusable as the assessee showed negligence and lack of diligence. The casual approach towards registration rejection did not constitute "sufficient cause" u/s 253(5) of the Act. The delay was not condoned, making it unnecessary to discuss the case's merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
