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...
AT analyzed the interplay between IBC, PMLA, and SARFAESI Act, holding that Section 14 moratorium does not preclude property attachment under PMLA. The tribunal rejected appellant's challenge, finding no merit in arguments regarding statutory precedence. Section 32A immunity was inapplicable as resolution plan conditions were not satisfied. The attachment of properties remains valid, with the court emphasizing that different statutes serve distinct legislative purposes. Consequently, the appellate tribunal dismissed the appeal, affirming the original attachment order and maintaining the enforcement mechanism under PMLA.
AT analyzed the interplay between IBC, PMLA, and SARFAESI Act, holding that Section 14 moratorium does not preclude property attachment under PMLA. The tribunal rejected appellant's challenge, finding no merit in arguments regarding statutory precedence. Section 32A immunity was inapplicable as resolution plan conditions were not satisfied. The attachment of properties remains valid, with the court emphasizing that different statutes serve distinct legislative purposes. Consequently, the appellate tribunal dismissed the appeal, affirming the original attachment order and maintaining the enforcement mechanism under PMLA.
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TaxTMI 
TaxTMI 
of 4915 
