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...
The Delhi High Court dismissed a Public Interest Litigation alleging money laundering and tax evasion through undervalued share transfer. The Petitioner sought investigation into share sale valuation, but as the IT Department had examined it during Respondent No. 7's block assessment without adverse findings, no further directions were deemed necessary. The Court noted a previous petition by the same Petitioner against a common Respondent was dismissed as motivated, leading to the opinion that entertaining the present PIL did not serve the cause of justice or PIL objectives. The petition was dismissed.
The Delhi High Court dismissed a Public Interest Litigation alleging money laundering and tax evasion through undervalued share transfer. The Petitioner sought investigation into share sale valuation, but as the IT Department had examined it during Respondent No. 7's block assessment without adverse findings, no further directions were deemed necessary. The Court noted a previous petition by the same Petitioner against a common Respondent was dismissed as motivated, leading to the opinion that entertaining the present PIL did not serve the cause of justice or PIL objectives. The petition was dismissed.
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TaxTMI 
TaxTMI 
of 4915 
