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...
Legal principles governing the initiation of criminal proceedings and the implications of settlement or immunity orders on such proceedings. It clarifies that mere registration of an FIR does not constitute initiation of proceedings; cognizance is taken only after a final report u/s 173(2) of CrPC. The court discusses a precedent where continuation of prosecution was deemed inconsistent with the intent of a settlement scheme. It further examines the impact of an immunity order granted to the appellant company, concluding that pursuing proceedings would amount to abuse of process since the basis of allegations was non-existent. Consequently, the impugned order taking cognizance against the appellant company is set aside, and the appeal is allowed.
Legal principles governing the initiation of criminal proceedings and the implications of settlement or immunity orders on such proceedings. It clarifies that mere registration of an FIR does not constitute initiation of proceedings; cognizance is taken only after a final report u/s 173(2) of CrPC. The court discusses a precedent where continuation of prosecution was deemed inconsistent with the intent of a settlement scheme. It further examines the impact of an immunity order granted to the appellant company, concluding that pursuing proceedings would amount to abuse of process since the basis of allegations was non-existent. Consequently, the impugned order taking cognizance against the appellant company is set aside, and the appeal is allowed.
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TaxTMI 
TaxTMI 
of 4915 
