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...
CESTAT allowed the appeal and set aside the impugned order on limitation grounds, holding that the extended period under the proviso to Section 11A(1) of the Act could not be invoked. The show-cause notice, issued beyond the one-year period for the April 2002-August 2003 period, failed to aver specifically which default under the proviso (collusion, wilful misrepresentation or suppression of facts with intent to evade duty) was alleged, and the adjudicating authority did not establish those ingredients against the appellant. Because the Revenue bore the burden of proving dishonest intent and such allegations were absent, the demand falling within the extended period is not maintainable.
CESTAT allowed the appeal and set aside the impugned order on limitation grounds, holding that the extended period under the proviso to Section 11A(1) of the Act could not be invoked. The show-cause notice, issued beyond the one-year period for the April 2002-August 2003 period, failed to aver specifically which default under the proviso (collusion, wilful misrepresentation or suppression of facts with intent to evade duty) was alleged, and the adjudicating authority did not establish those ingredients against the appellant. Because the Revenue bore the burden of proving dishonest intent and such allegations were absent, the demand falling within the extended period is not maintainable.
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TaxTMI 
TaxTMI 
of 4915 
