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 held that cross-objections are not maintainable under Section 260A of the Act absent specific statutory recognition, unlike Section 253(4). A respondent's right under Section 260A(6)(b) is limited to advancing contentions on adverse Tribunal findings only if they are intrinsically connected to the substantial question of law in the admitted appeal. The provision is merely enabling and does not confer an independent right to raise challenges disconnected from the admitted question. While respondents may support ultimate decisions by pressing connected issues decided against them without separate cross-objections, they must pursue appropriate appellate remedies for unconnected grievances rather than filing cross-objections.
HC held that cross-objections are not maintainable under Section 260A of the Act absent specific statutory recognition, unlike Section 253(4). A respondent's right under Section 260A(6)(b) is limited to advancing contentions on adverse Tribunal findings only if they are intrinsically connected to the substantial question of law in the admitted appeal. The provision is merely enabling and does not confer an independent right to raise challenges disconnected from the admitted question. While respondents may support ultimate decisions by pressing connected issues decided against them without separate cross-objections, they must pursue appropriate appellate remedies for unconnected grievances rather than filing cross-objections.
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TaxTMI 
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