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...
FDI - Automatic route or not - Inward remittances made into India in the year 2008, through normal banking channels - bidding of IPL - The present case cannot be compared with another case of sport event, as the facts and circumstances were materially different - whether it is a bona-fide or not, but violation has occurred - after refusal of approval for two times, the appellants cannot be allowed to take the benefit of automatic route - Penalties are exorbitant, hence reduced.
FDI - Automatic route or not - Inward remittances made into India in the year 2008, through normal banking channels - bidding of IPL - The present case cannot be compared with another case of sport event, as the facts and circumstances were materially different - whether it is a bona-fide or not, but violation has occurred - after refusal of approval for two times, the appellants cannot be allowed to take the benefit of automatic route - Penalties are exorbitant, hence reduced.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
