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...
Levy of penalty - Recording of transaction in the books of accounts - It was not a case where the penalty proceedings could legally be initiated and in fact, the Assessing Authority as well as the Tribunal were illegally and arbitrarily proceeded to impose and confirm the penalty.
Levy of penalty - Recording of transaction in the books of accounts - It was not a case where the penalty proceedings could legally be initiated and in fact, the Assessing Authority as well as the Tribunal were illegally and arbitrarily proceeded to impose and confirm the penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
