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...
ITAT held that assessment order dated 27/09/2021 against dissolved company lacks legal enforceability. During insolvency proceedings, tax department's claim of Rs. 10.14 Cr for TDS violations was rejected, with subsequent NCLAT dismissal. Approved resolution plan explicitly extinguished all revenue department dues prior to NCLT approval date. Following established jurisprudence, tribunal determined assessment order lost legal sanctity post-dissolution. Department's grounds challenging CIT(A) order deemed non-sustainable. Appeal dismissed as resolution plan's approval effectively extinguished pre-existing tax liabilities.
ITAT held that assessment order dated 27/09/2021 against dissolved company lacks legal enforceability. During insolvency proceedings, tax department's claim of Rs. 10.14 Cr for TDS violations was rejected, with subsequent NCLAT dismissal. Approved resolution plan explicitly extinguished all revenue department dues prior to NCLT approval date. Following established jurisprudence, tribunal determined assessment order lost legal sanctity post-dissolution. Department's grounds challenging CIT(A) order deemed non-sustainable. Appeal dismissed as resolution plan's approval effectively extinguished pre-existing tax liabilities.
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TaxTMI 
TaxTMI 
of 4915 
