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 dismissed the petition challenging proceedings under SARFAESI Act, upholding the principle that writ jurisdiction should not be invoked when statutory remedies remain available. The Court determined that despite the requirement to deposit funds to file an appeal under Section 18 of SARFAESI Act, this condition alone does not justify bypassing the statutory framework. Following PHR Invent Educational Society v. UCO Bank (2024), the HC affirmed that the SARFAESI Act constitutes a complete code with comprehensive remedies at various stages of proceedings. The Court concluded that Article 226 jurisdiction should be exercised sparingly when efficacious alternative remedies exist within the statutory scheme.
The HC dismissed the petition challenging proceedings under SARFAESI Act, upholding the principle that writ jurisdiction should not be invoked when statutory remedies remain available. The Court determined that despite the requirement to deposit funds to file an appeal under Section 18 of SARFAESI Act, this condition alone does not justify bypassing the statutory framework. Following PHR Invent Educational Society v. UCO Bank (2024), the HC affirmed that the SARFAESI Act constitutes a complete code with comprehensive remedies at various stages of proceedings. The Court concluded that Article 226 jurisdiction should be exercised sparingly when efficacious alternative remedies exist within the statutory scheme.
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