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 and held that information received under the DTAA and placed on record before the Magistrate by the I.T. Department may be accessed by the E.D. for bona fide investigation into alleged offences. Petitioners lack locus to invoke the DTAA to block inter-departmental disclosure; any treaty breach concern lies with the State/Department, not the accused. The court found no circumvention of the DTAA by permitting E.D. access and declined to enjoin inspection. The E.D. is authorized to inspect and copy the complaint record and associated documents for investigative purposes, subject to a non-dissemination obligation unless further permitted by law.
The HC dismissed the petitions and held that information received under the DTAA and placed on record before the Magistrate by the I.T. Department may be accessed by the E.D. for bona fide investigation into alleged offences. Petitioners lack locus to invoke the DTAA to block inter-departmental disclosure; any treaty breach concern lies with the State/Department, not the accused. The court found no circumvention of the DTAA by permitting E.D. access and declined to enjoin inspection. The E.D. is authorized to inspect and copy the complaint record and associated documents for investigative purposes, subject to a non-dissemination obligation unless further permitted by law.
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TaxTMI 
TaxTMI 
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