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...
HC determined that certificates and orders demanding elevated tax amounts from the petitioner under Direct Tax Vivad Se Vishwas Act, 2020 were unlawful and arbitrary. The demands contravened both documentary evidence and statutory provisions of DTVSV Act. The court found no sustainable basis for the inflated tax assessment and concluded that the respondents' actions exceeded their jurisdictional authority under the tax dispute resolution framework. Accordingly, the orders were quashed, with specific directives issued to the respondents for compliance. The appeal against the petitioner's position was dismissed for lack of substantive merit, affirming the principle that tax demands must align with documentary evidence and statutory parameters.
HC determined that certificates and orders demanding elevated tax amounts from the petitioner under Direct Tax Vivad Se Vishwas Act, 2020 were unlawful and arbitrary. The demands contravened both documentary evidence and statutory provisions of DTVSV Act. The court found no sustainable basis for the inflated tax assessment and concluded that the respondents' actions exceeded their jurisdictional authority under the tax dispute resolution framework. Accordingly, the orders were quashed, with specific directives issued to the respondents for compliance. The appeal against the petitioner's position was dismissed for lack of substantive merit, affirming the principle that tax demands must align with documentary evidence and statutory parameters.
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