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...
Deduction u/s 10AA - AO estimated profit of SEZ unit at 3% as against 6.95% of the turnover - the onus is on AO to prove the presence of any arrangement between the parties which have resulted in extraordinary profits to the eligible unit and he could have, at least, brought variation in price of supply of commodity from different units on record to establish collusion/arrangement - onus remains undischarged - deduction allowable
Deduction u/s 10AA - AO estimated profit of SEZ unit at 3% as against 6.95% of the turnover - the onus is on AO to prove the presence of any arrangement between the parties which have resulted in extraordinary profits to the eligible unit and he could have, at least, brought variation in price of supply of commodity from different units on record to establish collusion/arrangement - onus remains undischarged - deduction allowable
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
