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...
There is no basis for arbitrary disallowance of adhoc 30% of expenditure stated under the head 'Operating and Administrative Expenses' - These expenses were spent by way of application of income for the purpose of carrying on the charitable activity and such application of income is fully admissible u/s 11
There is no basis for arbitrary disallowance of adhoc 30% of expenditure stated under the head 'Operating and Administrative Expenses' - These expenses were spent by way of application of income for the purpose of carrying on the charitable activity and such application of income is fully admissible u/s 11
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
