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...
Denial of exemption u/s 11 - cancellation of registration u/s 12AA(3) - Since the assessee is in the micro finance activity, the activity itself is a charitable activity - advances were made to the rural poor - CIT has not proved that there is no charitable activity and the society is not genuine and is running on commercial activity with tangible evidence. - Registration restored - AT
Denial of exemption u/s 11 - cancellation of registration u/s 12AA(3) - Since the assessee is in the micro finance activity, the activity itself is a charitable activity - advances were made to the rural poor - CIT has not proved that there is no charitable activity and the society is not genuine and is running on commercial activity with tangible evidence. - Registration restored - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
