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...
Diversion of income by way of overriding title - legal heirs of the deceased partner was paid a sum as per the partnership deed - Diversion of income at source can take place either under a legal compulsion or under a contractual obligation or else under a statutory provision. Hence payment legal heirs of the deceased partner is allowable as Diversion of income.
Diversion of income by way of overriding title - legal heirs of the deceased partner was paid a sum as per the partnership deed - Diversion of income at source can take place either under a legal compulsion or under a contractual obligation or else under a statutory provision. Hence payment legal heirs of the deceased partner is allowable as Diversion of income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
