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...
Addition of unexplained income under section 69A - The shares were held in the name of the partners on behalf the assessee firm and hence, naturally, the name of assessee firm would not find place in the transactions. Under these set of facts, the letters issued by the Stock Exchange could not be relied upon by the tax authorities - AT
Addition of unexplained income under section 69A - The shares were held in the name of the partners on behalf the assessee firm and hence, naturally, the name of assessee firm would not find place in the transactions. Under these set of facts, the letters issued by the Stock Exchange could not be relied upon by the tax authorities - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
