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 High Court considered a Civil Miscellaneous Petition seeking condonation of a delay of 891 days in filing an appeal. Emphasizing the legal maxim "interest reipublicae ut sit finis litium," the Court noted that rules of limitation aim to preserve legal remedies within a legislatively fixed period. Lack of bona fide motive, inaction, and negligence are crucial factors in delay condonation. Referring to a Supreme Court case, the Court highlighted that merely establishing sufficient cause does not automatically entitle a party to condone delay. The term "sufficient cause" was interpreted to require absence of negligence or lack of bona fide intent. Ultimately, the Court found no adequate reason to justify the lengthy delay and dismissed the condonation application.
The High Court considered a Civil Miscellaneous Petition seeking condonation of a delay of 891 days in filing an appeal. Emphasizing the legal maxim "interest reipublicae ut sit finis litium," the Court noted that rules of limitation aim to preserve legal remedies within a legislatively fixed period. Lack of bona fide motive, inaction, and negligence are crucial factors in delay condonation. Referring to a Supreme Court case, the Court highlighted that merely establishing sufficient cause does not automatically entitle a party to condone delay. The term "sufficient cause" was interpreted to require absence of negligence or lack of bona fide intent. Ultimately, the Court found no adequate reason to justify the lengthy delay and dismissed the condonation application.
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TaxTMI 
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