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 HC held that the Tribunal rightly did not approve the manner in which proceedings were conducted by the Adjudicating Authority. The respondent had demonstrated procurement of raw material and manufacturing activity through evidence like installation of DG sets, transportation records, and inspections by authorities. The Adjudicating Authority erred in solely relying on the Commissionerate's investigation report doubting respondent's suppliers, without examining respondent's evidence or conducting focused inquiry on respondent's procurement and manufacturing aspects. The appellant failed to disprove respondent's case of procuring raw material and undertaking manufacturing. The appeal was dismissed.
The HC held that the Tribunal rightly did not approve the manner in which proceedings were conducted by the Adjudicating Authority. The respondent had demonstrated procurement of raw material and manufacturing activity through evidence like installation of DG sets, transportation records, and inspections by authorities. The Adjudicating Authority erred in solely relying on the Commissionerate's investigation report doubting respondent's suppliers, without examining respondent's evidence or conducting focused inquiry on respondent's procurement and manufacturing aspects. The appellant failed to disprove respondent's case of procuring raw material and undertaking manufacturing. The appeal was dismissed.
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TaxTMI 
TaxTMI 
of 4915 
