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...
Addition based on foreign HSBC bank accounts - information received from French Government under DTAA - no material or evidence to say that the assessee was connected with the bank accounts in question - addition is is based on the presumption that the assessee has routed the money sourced from India through the three entities into the bank accounts in question - presumption, howsoever, strong cannot substitute an evidence - no addition
Addition based on foreign HSBC bank accounts - information received from French Government under DTAA - no material or evidence to say that the assessee was connected with the bank accounts in question - addition is is based on the presumption that the assessee has routed the money sourced from India through the three entities into the bank accounts in question - presumption, howsoever, strong cannot substitute an evidence - no addition
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
