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) - assessee has admitted part disallowance of expenses - admission of expenses could not be construed that the assessee has admitted allegations that he has furnished inaccurate particulars - AO need to demonstrate that the explanation of the expenditure given by the assessee was false - No penalty
Penalty u/s 271(1)(c) - assessee has admitted part disallowance of expenses - admission of expenses could not be construed that the assessee has admitted allegations that he has furnished inaccurate particulars - AO need to demonstrate that the explanation of the expenditure given by the assessee was false - No penalty
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
