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 or 153C - the information of alleged accommodation entries was passed on to the AO of the assessee by the investigation wing - no material belonging to the assessee was either found from the residence of this S. K. Jain or handed over to the AO of the assessee by the AO of the searched person - AO has rightly invoked jurisdiction u/s. 147 and not u/s 153C of the IT Act
Reassessment u/s. 147 or 153C - the information of alleged accommodation entries was passed on to the AO of the assessee by the investigation wing - no material belonging to the assessee was either found from the residence of this S. K. Jain or handed over to the AO of the assessee by the AO of the searched person - AO has rightly invoked jurisdiction u/s. 147 and not u/s 153C of the IT Act
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
