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...
HC upheld concurrent conviction of accused under S.138 NI Act and dismissal of revision. It reiterated that revisional jurisdiction is limited to correcting patent defects or jurisdictional errors and does not permit reappreciation of evidence absent perversity. As issuance and signatures on the cheque were undisputed, statutory presumptions under Ss.118(a) and 139 arose that it was issued towards a legally enforceable debt. The accused failed to adduce credible evidence of repayment or misuse of the cheque to rebut the presumption. Notice was held to be deemed served, and dishonour for "insufficient funds" stood proved. The sentence, including default imprisonment for non-payment of compensation, was found legally sustainable.
HC upheld concurrent conviction of accused under S.138 NI Act and dismissal of revision. It reiterated that revisional jurisdiction is limited to correcting patent defects or jurisdictional errors and does not permit reappreciation of evidence absent perversity. As issuance and signatures on the cheque were undisputed, statutory presumptions under Ss.118(a) and 139 arose that it was issued towards a legally enforceable debt. The accused failed to adduce credible evidence of repayment or misuse of the cheque to rebut the presumption. Notice was held to be deemed served, and dishonour for "insufficient funds" stood proved. The sentence, including default imprisonment for non-payment of compensation, was found legally sustainable.
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TaxTMI 
TaxTMI 
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