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 HC dismissed the petitions challenging the sanction for prosecution under Sections 276C(1) and 277A of the Income Tax Act, 1961, holding that the sanction granted by the Principal Director (Inv.)-I was valid as the term "Commissioner" includes Directors and Principal Directors under the Act. The complaint filed by the Deputy Director of Income Tax (Inv.) was not premature or unauthorized, as such officers may be notified for filing complaints. The sanction order was not vague, given it explicitly referred to Section 276(1). The pendency of assessment proceedings did not bar criminal prosecution. The petitioner's grievance regarding non-consideration of discharge application was unfounded, as no new grounds were raised beyond those already addressed. Consequently, the court upheld the competence of the sanctioning authority and the validity of the prosecution process, dismissing the petitions in their entirety.
The HC dismissed the petitions challenging the sanction for prosecution under Sections 276C(1) and 277A of the Income Tax Act, 1961, holding that the sanction granted by the Principal Director (Inv.)-I was valid as the term "Commissioner" includes Directors and Principal Directors under the Act. The complaint filed by the Deputy Director of Income Tax (Inv.) was not premature or unauthorized, as such officers may be notified for filing complaints. The sanction order was not vague, given it explicitly referred to Section 276(1). The pendency of assessment proceedings did not bar criminal prosecution. The petitioner's grievance regarding non-consideration of discharge application was unfounded, as no new grounds were raised beyond those already addressed. Consequently, the court upheld the competence of the sanctioning authority and the validity of the prosecution process, dismissing the petitions in their entirety.
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