LTU Scheme - Show Cause Notice to exclude new units from LTU ?
THE LTU Scheme was started with much fanfare and assessees were actually persuaded to join the LTU . But recently there was a case where an LTU was issued a Show Cause Notice to deny entry into the LTU for three units of an LTU assessee just because of a technicality that a proper intimation was not given. The assessee had to go to the High Court to get its three three units included in the LTU scheme. The High Court observed that the Chief Commissioner/Commissioner, LTU must play a pro active role in the administration of LTU and solve the problem that arises at the initial stage.
We will bring you this case tomorrow.