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...
Classification dispute concerned MS tanks, frames and gland plates: applying the commercial identity test and purchaser-supplied drawings and certificates, the tribunal concluded these items are parts of electrical transformers and correctly classifiable under CTH 85049010; contemporaneous ER-1 returns and departmental knowledge of clearances precluded invocation of the extended period of limitation, so the demand was set aside and impugned order quashed with consequential relief.
Classification dispute concerned MS tanks, frames and gland plates: applying the commercial identity test and purchaser-supplied drawings and certificates, the tribunal concluded these items are parts of electrical transformers and correctly classifiable under CTH 85049010; contemporaneous ER-1 returns and departmental knowledge of clearances precluded invocation of the extended period of limitation, so the demand was set aside and impugned order quashed with consequential relief.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
