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 orders under s.201 for A.Y. 2018-19 and 2019-20, holding them unsustainable because identical issues were earlier quashed for A.Y. 2014-15 and 2016-17 and the AO (TDS) acted without jurisdiction contrary to the Tribunal's decisions; the Revenue's plea of alternate remedy was rejected. The matter is remitted to the AO (TDS) to the stage of issuance of the show-cause notice under s.201 for fresh adjudication after disposal of the pending HC appeal, with all consequential proceedings held infructuous. The Petitioner's undertaking to withdraw statutory appeals before the CIT(A) is accepted, subject to revival if this order is set aside on challenge.
The HC quashed and set aside orders under s.201 for A.Y. 2018-19 and 2019-20, holding them unsustainable because identical issues were earlier quashed for A.Y. 2014-15 and 2016-17 and the AO (TDS) acted without jurisdiction contrary to the Tribunal's decisions; the Revenue's plea of alternate remedy was rejected. The matter is remitted to the AO (TDS) to the stage of issuance of the show-cause notice under s.201 for fresh adjudication after disposal of the pending HC appeal, with all consequential proceedings held infructuous. The Petitioner's undertaking to withdraw statutory appeals before the CIT(A) is accepted, subject to revival if this order is set aside on challenge.
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TaxTMI 
TaxTMI 
of 4915 
