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...
Interest income - Correct head of income - income from other sources OR income from business - if interest income earned by the assessee is not incidental to the business activity of the assessee but on loans in the market for earning the interest intentionally and deliberately then it is income from other sources and not the business income.
Interest income - Correct head of income - income from other sources OR income from business - if interest income earned by the assessee is not incidental to the business activity of the assessee but on loans in the market for earning the interest intentionally and deliberately then it is income from other sources and not the business income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
