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 invalidated reopening of tax assessment, finding procedural violations in notices issued under Sections 148-A and 148. Following precedents from multiple jurisdictions, the court held that assessment notices were improperly served outside the faceless assessment framework mandated by Finance Act, 2021. The jurisdictional Assessing Officer's actions were deemed non-compliant with statutory requirements. Consequently, the writ petition was allowed in favor of the assessee, effectively quashing the tax reassessment proceedings on jurisdictional grounds.
HC invalidated reopening of tax assessment, finding procedural violations in notices issued under Sections 148-A and 148. Following precedents from multiple jurisdictions, the court held that assessment notices were improperly served outside the faceless assessment framework mandated by Finance Act, 2021. The jurisdictional Assessing Officer's actions were deemed non-compliant with statutory requirements. Consequently, the writ petition was allowed in favor of the assessee, effectively quashing the tax reassessment proceedings on jurisdictional grounds.
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TaxTMI 
TaxTMI 
of 4916 
