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 the petitioner breached SVLDRS Scheme provisions by failing to deposit the full declared amount within 30 days of FORM SVLDRS-03 issuance. Despite partial payment of Rs. 10 Lakh, the court permitted the petitioner to pay the remaining Rs. 29,56,239/- with 9% interest per annum from 30.06.2020. The respondent authority is authorized to recover the dues from the petitioner's attached bank account. The petition was disposed of, effectively allowing the petitioner to settle the outstanding tax liability under the voluntary disclosure scheme.
HC held that the petitioner breached SVLDRS Scheme provisions by failing to deposit the full declared amount within 30 days of FORM SVLDRS-03 issuance. Despite partial payment of Rs. 10 Lakh, the court permitted the petitioner to pay the remaining Rs. 29,56,239/- with 9% interest per annum from 30.06.2020. The respondent authority is authorized to recover the dues from the petitioner's attached bank account. The petition was disposed of, effectively allowing the petitioner to settle the outstanding tax liability under the voluntary disclosure scheme.
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TaxTMI 
TaxTMI 
of 4916 
