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...
The SC upheld the NCLAT's refusal to condone the delay in filing an appeal under Section 421(3) of the Companies Act, 1956, finding no sufficient cause to excuse the inordinate delay beyond the statutory limitation period. The Court affirmed that the proviso to Sub-Section (3) does not permit such condonation absent justifiable reasons. Consequently, the appeal challenging the NCLAT's order dismissing the condonation application was dismissed, thereby sustaining the finality of the impugned decision.
The SC upheld the NCLAT's refusal to condone the delay in filing an appeal under Section 421(3) of the Companies Act, 1956, finding no sufficient cause to excuse the inordinate delay beyond the statutory limitation period. The Court affirmed that the proviso to Sub-Section (3) does not permit such condonation absent justifiable reasons. Consequently, the appeal challenging the NCLAT's order dismissing the condonation application was dismissed, thereby sustaining the finality of the impugned decision.
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TaxTMI 
TaxTMI 
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