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 upheld the tribunal's rejection of limitation, holding that the cause of action arose when the additional cost crossed the contractual threshold and the claim was thereafter pursued through the contractual mechanism and arbitration. However, it set aside the award for patent illegality and want of reasons because the claimant produced no evidence of actual tax payment at the enhanced rates, no proof of the contractual annual deduction, and a claim statement could not itself prove the claim. The tribunal also failed to consider the material defence that service tax was not leviable under the relied-upon notifications, rendering the award unreasoned and unsustainable.
The HC upheld the tribunal's rejection of limitation, holding that the cause of action arose when the additional cost crossed the contractual threshold and the claim was thereafter pursued through the contractual mechanism and arbitration. However, it set aside the award for patent illegality and want of reasons because the claimant produced no evidence of actual tax payment at the enhanced rates, no proof of the contractual annual deduction, and a claim statement could not itself prove the claim. The tribunal also failed to consider the material defence that service tax was not leviable under the relied-upon notifications, rendering the award unreasoned and unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
