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 details alongwith affidavit of lenders - all lender also confirm in response to notice 133(6) - all the three ingredients such as identities of the parties, capacity and creditworthiness of the parties and genuineness proved - addition unsustainable
Addition u/s 68 - assessee submitted all details alongwith affidavit of lenders - all lender also confirm in response to notice 133(6) - all the three ingredients such as identities of the parties, capacity and creditworthiness of the parties and genuineness proved - addition unsustainable
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
