Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
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Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Consequential penalties imposed on Chartered Engineers for alleged undervaluation of imported second-hand printing machinery cannot continue where the underlying demand, interest and penalties against the principal parties have been set aside as legally unsustainable. Because the Engineers' penalties rested on the same allegation of undervaluation, setting aside the foundation proceedings removed the basis for those penalties. The penalties were set aside, with consequential relief available in accordance with law.
Consequential penalties imposed on Chartered Engineers for alleged undervaluation of imported second-hand printing machinery cannot continue where the underlying demand, interest and penalties against the principal parties have been set aside as legally unsustainable. Because the Engineers' penalties rested on the same allegation of undervaluation, setting aside the foundation proceedings removed the basis for those penalties. The penalties were set aside, with consequential relief available in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4920 
