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) - non inclusion of interest on IT refund received u/s 244A - failure to look into the 26AS at the time of filing return would not indicate any contumacious or obstinate conduct on the part of the assessee, but possibly reflect laxity or some carelessness - A bonafide error or mistake does not necessarily invite penalty proceedings in every case
Penalty u/s 271(1)(c) - non inclusion of interest on IT refund received u/s 244A - failure to look into the 26AS at the time of filing return would not indicate any contumacious or obstinate conduct on the part of the assessee, but possibly reflect laxity or some carelessness - A bonafide error or mistake does not necessarily invite penalty proceedings in every case
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
