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 allowed the petition challenging rejection of condonation application for delayed income tax return filing. Petitioner, a non-resident assessee, failed to file return within prescribed time limit believing no filing obligation existed due to absence of tax liability, and was medically unfit during pendency. Court held that procedural requirements cannot defeat substantive rights when genuine hardship exists, relying on established precedents regarding condonation of delay. HC quashed the impugned order and remanded matter to respondent authority with directions to pass fresh order condoning delay, enabling petitioner to claim legitimate refund of excess tax deducted at source under statutory provisions.
HC allowed the petition challenging rejection of condonation application for delayed income tax return filing. Petitioner, a non-resident assessee, failed to file return within prescribed time limit believing no filing obligation existed due to absence of tax liability, and was medically unfit during pendency. Court held that procedural requirements cannot defeat substantive rights when genuine hardship exists, relying on established precedents regarding condonation of delay. HC quashed the impugned order and remanded matter to respondent authority with directions to pass fresh order condoning delay, enabling petitioner to claim legitimate refund of excess tax deducted at source under statutory provisions.
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