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...
Pending appeal against dismissal of an oppression and mismanagement petition does not, without a stay, restore former directors' corporate authority or suspend the operative effect of the Tribunal's order. Relief for oppression or mismanagement requires qualifying membership, conduct prejudicial to members, public interest or the company, and the statutory foundation for remedial or interim orders. Challenges to director removal must distinguish procedural validity from the broader threshold for oppression. Banks ordinarily should follow formally authorised company instructions rather than adjudicate unresolved internal-management disputes, absent a competent restraint. Collateral participants must independently establish locus and comply with proper recall, impleadment and appellate procedures.
Pending appeal against dismissal of an oppression and mismanagement petition does not, without a stay, restore former directors' corporate authority or suspend the operative effect of the Tribunal's order. Relief for oppression or mismanagement requires qualifying membership, conduct prejudicial to members, public interest or the company, and the statutory foundation for remedial or interim orders. Challenges to director removal must distinguish procedural validity from the broader threshold for oppression. Banks ordinarily should follow formally authorised company instructions rather than adjudicate unresolved internal-management disputes, absent a competent restraint. Collateral participants must independently establish locus and comply with proper recall, impleadment and appellate procedures.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
