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...
Penalty u/s 271D - there is nothing to show that there was urgency for the assessee to avail the loan in cash in violation of Section 269SS - such a transaction would not come under the exception clause of Section 271D - HC
Penalty u/s 271D - there is nothing to show that there was urgency for the assessee to avail the loan in cash in violation of Section 269SS - such a transaction would not come under the exception clause of Section 271D - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
