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...
Disallowance of 20% of misc. expenses - if there is any deficiency in the vouchers or the bills supporting the incurrence of expenditure, then at the most those can be regarded to be non-genuine and can be disallowed - AO has resorted to estimating the disallowance of the claim without resorting to the procedure u/s 145(3) r.w.s 144 - arbitrary and adhoc disallowance not sustainable
Disallowance of 20% of misc. expenses - if there is any deficiency in the vouchers or the bills supporting the incurrence of expenditure, then at the most those can be regarded to be non-genuine and can be disallowed - AO has resorted to estimating the disallowance of the claim without resorting to the procedure u/s 145(3) r.w.s 144 - arbitrary and adhoc disallowance not sustainable
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
