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 set aside the penalty of Rs.2,00,000 imposed by the impugned order dated 31 March 2025 on the petitioner in proceedings concerning alleged smuggling and baggage rule violations. The court found the petitioner-a young national-level athlete-was induced by a coach to carry the articles and, given the vulnerability and subordinate position, afforded the petitioner the benefit of the doubt. The HC annulled the penalty qua the petitioner, directed that the penalty demand shall not stigmatize or adversely affect the petitioner's future career prospects, recorded the petitioner's regret, and declared the matter closed insofar as the petitioner is concerned. Petition disposed.
The HC set aside the penalty of Rs.2,00,000 imposed by the impugned order dated 31 March 2025 on the petitioner in proceedings concerning alleged smuggling and baggage rule violations. The court found the petitioner-a young national-level athlete-was induced by a coach to carry the articles and, given the vulnerability and subordinate position, afforded the petitioner the benefit of the doubt. The HC annulled the penalty qua the petitioner, directed that the penalty demand shall not stigmatize or adversely affect the petitioner's future career prospects, recorded the petitioner's regret, and declared the matter closed insofar as the petitioner is concerned. Petition disposed.
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TaxTMI 
TaxTMI 
of 4915 
