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 quashed and set aside the three domestic arbitral awards as implausible and irreparably infected by manifest contradictions and inconsistent findings by a common arbitrator sitting on different appellate tribunals, rendering the awards vitiated by patent illegality and perversity. The court found the awards indivisible and incapable of segregation; none could be salvaged. The HC appointed a sole arbitrator (former judge) to re-adjudicate the disputes between the parties and directed further arbitral proceedings accordingly. The petition was disposed of and all three awards annulled.
The HC quashed and set aside the three domestic arbitral awards as implausible and irreparably infected by manifest contradictions and inconsistent findings by a common arbitrator sitting on different appellate tribunals, rendering the awards vitiated by patent illegality and perversity. The court found the awards indivisible and incapable of segregation; none could be salvaged. The HC appointed a sole arbitrator (former judge) to re-adjudicate the disputes between the parties and directed further arbitral proceedings accordingly. The petition was disposed of and all three awards annulled.
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TaxTMI 
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