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...
Penalty u/s 271(1)(c) - Disclosure of relevant facts - 1/5th ROC expenditure allowable u/s 35D - if all necessary details were made available by the assessee, the mere fact that the addition made in the course of assessment proceedings in the peculiar facts was not challenged in appeal by itself is neither here nor there is not sufficient to levy of penalty.
Penalty u/s 271(1)(c) - Disclosure of relevant facts - 1/5th ROC expenditure allowable u/s 35D - if all necessary details were made available by the assessee, the mere fact that the addition made in the course of assessment proceedings in the peculiar facts was not challenged in appeal by itself is neither here nor there is not sufficient to levy of penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
