Vehicle expense apportionment and agricultural income substantiation: ITAT allowed partial business deduction and deleted the reclassification additio...
Page of 4821
Press 'Enter' after typing page number.
5261 to 5280 of 96406 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Non-consideration of the assessee's replies before forming belief under section 148A(3) violated natural justice and vitiated the reassessment order, because the order merely noted partial bank statements and did not examine the explanations or the commercial rationale and materials produced. The impugned order and consequential notice were quashed, and the matter was remitted for fresh consideration of the genuineness and creditworthiness of the transactions after granting a hearing and passing a reasoned order.
Non-consideration of the assessee's replies before forming belief under section 148A(3) violated natural justice and vitiated the reassessment order, because the order merely noted partial bank statements and did not examine the explanations or the commercial rationale and materials produced. The impugned order and consequential notice were quashed, and the matter was remitted for fresh consideration of the genuineness and creditworthiness of the transactions after granting a hearing and passing a reasoned order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
