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 dismissed SLP challenging rectification of GST returns beyond prescribed timelines. The court held that the right to correct clerical or arithmetical errors is inherent in conducting business and should not be denied without substantial justification. Software limitations cannot be a valid reason to prevent error correction, as technological systems can be reconfigured to facilitate compliance. The ruling emphasizes taxpayers' procedural flexibility in addressing inadvertent mistakes in tax documentation, affirming the principle of substantive justice over rigid procedural constraints.
HC dismissed SLP challenging rectification of GST returns beyond prescribed timelines. The court held that the right to correct clerical or arithmetical errors is inherent in conducting business and should not be denied without substantial justification. Software limitations cannot be a valid reason to prevent error correction, as technological systems can be reconfigured to facilitate compliance. The ruling emphasizes taxpayers' procedural flexibility in addressing inadvertent mistakes in tax documentation, affirming the principle of substantive justice over rigid procedural constraints.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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