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...
Reassessment u/s 147 - reopening by the AO on the basis of vague and irrelevant information, which was indefinite and far-fetched for the formation of any belief that sale of agricultural land was chargeable to tax - reasons recorded by the AO for the belief which was formed by him failed to satisfy the mandatory requirements of section 147 - order was bad-in law
Reassessment u/s 147 - reopening by the AO on the basis of vague and irrelevant information, which was indefinite and far-fetched for the formation of any belief that sale of agricultural land was chargeable to tax - reasons recorded by the AO for the belief which was formed by him failed to satisfy the mandatory requirements of section 147 - order was bad-in law
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
