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 stand of the AO is that assessee should have used its own fund instead of interest bearing borrowings for running the business. - AO cannot force the assessee to earn interest income or save interest expenses for running the business. - AT
The stand of the AO is that assessee should have used its own fund instead of interest bearing borrowings for running the business. - AO cannot force the assessee to earn interest income or save interest expenses for running the business. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
