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 held that the demand in DRC-07 dated 31.12.2023, seeking recovery of tax already discharged, was prima facie unsustainable because Revenue's SCN/DRC-01 dated 12.04.2023 addressed only interest. Consequently, the attachment of the petitioner's bank account with the second respondent bank was declared unsustainable and must be lifted. The HC directed the first respondent to effect recovery solely of the interest component confirmed by the order dated 31.12.2023 directly from the petitioner's account and to raise the order of attachment forthwith to reflect that limited recovery. The petition was accordingly disposed of.
The HC held that the demand in DRC-07 dated 31.12.2023, seeking recovery of tax already discharged, was prima facie unsustainable because Revenue's SCN/DRC-01 dated 12.04.2023 addressed only interest. Consequently, the attachment of the petitioner's bank account with the second respondent bank was declared unsustainable and must be lifted. The HC directed the first respondent to effect recovery solely of the interest component confirmed by the order dated 31.12.2023 directly from the petitioner's account and to raise the order of attachment forthwith to reflect that limited recovery. The petition was accordingly disposed of.
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