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...
Seeking relief u/s 119(2) - condonation of delay in filing return of income - it is impossible to disbelieve the case of the petitioner that the default was due to the circumstances beyond his control. Thus, both the conditions (i) and (ii) of clause (c) of subsection (2) of section 119 of the said Act were fulfilled in the facts of the case. - HC
Seeking relief u/s 119(2) - condonation of delay in filing return of income - it is impossible to disbelieve the case of the petitioner that the default was due to the circumstances beyond his control. Thus, both the conditions (i) and (ii) of clause (c) of subsection (2) of section 119 of the said Act were fulfilled in the facts of the case. - HC
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