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 petitioner was not entitled to file declaration in Form SVLDRS-1 under Section 125(1) of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019. The Designated Authority erroneously accepted petitioner's Form SVLDRS-1 filed on 30.12.2019 and issued Form SVLDRS-3 on 07.01.2020, as no scope existed for entertaining application under Section 125(1)(f). Court ruled that mere issuance of Form SVLDRS-3 did not ipso facto entitle petitioner to settlement under the Scheme. Since declaration was unavailable to petitioner, discharge certificate in Form SVLDRS-4 could not be issued. HC directed respondents to proceed with Show Cause Notice adjudication on merits according to law and dismissed the writ petition.
HC held petitioner was not entitled to file declaration in Form SVLDRS-1 under Section 125(1) of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019. The Designated Authority erroneously accepted petitioner's Form SVLDRS-1 filed on 30.12.2019 and issued Form SVLDRS-3 on 07.01.2020, as no scope existed for entertaining application under Section 125(1)(f). Court ruled that mere issuance of Form SVLDRS-3 did not ipso facto entitle petitioner to settlement under the Scheme. Since declaration was unavailable to petitioner, discharge certificate in Form SVLDRS-4 could not be issued. HC directed respondents to proceed with Show Cause Notice adjudication on merits according to law and dismissed the writ petition.
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TaxTMI 
TaxTMI 
of 4915 
