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 High Court declined to exercise extraordinary writ jurisdiction to quash a show cause notice where parallel proceedings against multiple accused were ongoing, reasoning that premature interference could impede inquiries; the writ petition was dismissed without merit adjudication and no quashing was granted. The court did not resolve the petitioner's limitation/time-bar plea but directed the adjudicating authority to consider the petitioner's explanation and relied precedents (including the cited apex decision) while conducting further proceedings, leaving the substantive limitation question open for decision by the respondents-authority in accordance with law.
The High Court declined to exercise extraordinary writ jurisdiction to quash a show cause notice where parallel proceedings against multiple accused were ongoing, reasoning that premature interference could impede inquiries; the writ petition was dismissed without merit adjudication and no quashing was granted. The court did not resolve the petitioner's limitation/time-bar plea but directed the adjudicating authority to consider the petitioner's explanation and relied precedents (including the cited apex decision) while conducting further proceedings, leaving the substantive limitation question open for decision by the respondents-authority in accordance with law.
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TaxTMI 
TaxTMI 
of 4916 
