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...
Disallowing the interest on the notional / proportionate basis - As per the lower authorities, the borrowed fund has been utilized in the capital work-in-progress in view of the fact that the accumulated loss of the assessee exceeds the fund of the assessee.
Disallowing the interest on the notional / proportionate basis - As per the lower authorities, the borrowed fund has been utilized in the capital work-in-progress in view of the fact that the accumulated loss of the assessee exceeds the fund of the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
