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...
Bogus LTCG - penny stock - addition u/s 68 - The AO failed to bring on board any material to suggest that the assessee had made cash payment to the purchaser of share from electronic platform of BSE under the strict watch of SEBI. In the absence of evidence/material only discussing modus operandi floted by Investigation could not entitled the claim of assessee of LTCG on sale of shares as bogus.
Bogus LTCG - penny stock - addition u/s 68 - The AO failed to bring on board any material to suggest that the assessee had made cash payment to the purchaser of share from electronic platform of BSE under the strict watch of SEBI. In the absence of evidence/material only discussing modus operandi floted by Investigation could not entitled the claim of assessee of LTCG on sale of shares as bogus.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
