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...
Liquidator's discretion in fixing reserve price upheld. COVID-19 lockdown considered valid reason for extension to deposit balance sale consideration. Allegation of undervaluation rejected as appellant failed to bring higher bidders despite opportunities. Non-constitution of Stakeholders' Consultation Committee not violative due to clarificatory explanation. Regulation 33 considered directory, Adjudicating Authority's extension of time justified under extraordinary circumstances. Attachment order no ground to deny balance payment, purchaser's due diligence obligatory. Cancellation of sale refused considering purchaser's investments, appellant's delayed objections. Additional amount imposed on purchaser to balance equities.
Liquidator's discretion in fixing reserve price upheld. COVID-19 lockdown considered valid reason for extension to deposit balance sale consideration. Allegation of undervaluation rejected as appellant failed to bring higher bidders despite opportunities. Non-constitution of Stakeholders' Consultation Committee not violative due to clarificatory explanation. Regulation 33 considered directory, Adjudicating Authority's extension of time justified under extraordinary circumstances. Attachment order no ground to deny balance payment, purchaser's due diligence obligatory. Cancellation of sale refused considering purchaser's investments, appellant's delayed objections. Additional amount imposed on purchaser to balance equities.
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TaxTMI 
TaxTMI 
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