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...
Addition u/s 68 - assessee submitted all the necessary details in support of the share applicant and share premium receipt - The A.O. has not pointed out any defect in the documents - Even no notice u/s. 133(6) was issued to the share applicant to verify identity, genuineness and creditworthiness of the share applicant - In such cases Addition u/s 68 is not sustainable.
Addition u/s 68 - assessee submitted all the necessary details in support of the share applicant and share premium receipt - The A.O. has not pointed out any defect in the documents - Even no notice u/s. 133(6) was issued to the share applicant to verify identity, genuineness and creditworthiness of the share applicant - In such cases Addition u/s 68 is not sustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
