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...
Revision u/s 263 - cost of acquisition - valuation as on date OR as on 01.04.1981 - The valuer as simply commented upon condition of the property during the course of his verification only - when two views are possible and that has resulted in loss of the revenue it cannot be treated as erroneous order prejudicial to the interest of the revenue unless the view taken by the AO is unsustainable in law
Revision u/s 263 - cost of acquisition - valuation as on date OR as on 01.04.1981 - The valuer as simply commented upon condition of the property during the course of his verification only - when two views are possible and that has resulted in loss of the revenue it cannot be treated as erroneous order prejudicial to the interest of the revenue unless the view taken by the AO is unsustainable in law
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
