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...
Validity of proceedings u/s 153A - abatement of the proceedings before the ITSC - the order passed by the ITSC on 4th August, 2016 is an order u/s 245D(4) it enlarges the period of extension of limitation by one year in terms of further proviso to Section 153 below Explanation 1 that would apply - hence the notices issued on 6th April, 2017 cannot be said to be time barred
Validity of proceedings u/s 153A - abatement of the proceedings before the ITSC - the order passed by the ITSC on 4th August, 2016 is an order u/s 245D(4) it enlarges the period of extension of limitation by one year in terms of further proviso to Section 153 below Explanation 1 that would apply - hence the notices issued on 6th April, 2017 cannot be said to be time barred
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
