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...
Rectification u/s 154 by CIT(A) - date of applicability of provision of Section 56(2)(viib) - we are not interpreting the provision as such as to the date of applicability but only examining the issue as to whether the issue is debatable - since it is debatable issue in view of the contrary view taken by the Hon’ble Jurisdictional High Court - not a mistake apparent on record - CIT(A) wrongly rectified the order.
Rectification u/s 154 by CIT(A) - date of applicability of provision of Section 56(2)(viib) - we are not interpreting the provision as such as to the date of applicability but only examining the issue as to whether the issue is debatable - since it is debatable issue in view of the contrary view taken by the Hon’ble Jurisdictional High Court - not a mistake apparent on record - CIT(A) wrongly rectified the order.
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TaxTMI 
TaxTMI 
of 4915 
