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...
Parts of railway diesel locomotive classified under CETH 86079100. Allegation of wilful misclassification and intent to evade duty untenable. Misclassification not equated with misdeclaration. Bona fide adoption of classification by importer permissible as manufacturers not expected to be fully conversant with tariff schedules. Extended period of limitation and penalties set aside. Appeal allowed.
Parts of railway diesel locomotive classified under CETH 86079100. Allegation of wilful misclassification and intent to evade duty untenable. Misclassification not equated with misdeclaration. Bona fide adoption of classification by importer permissible as manufacturers not expected to be fully conversant with tariff schedules. Extended period of limitation and penalties set aside. Appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
