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...
Disallowance based on third party information gathered by Investigation Wing of the Department - AO denied opportunity of cross examination - High Court affirmed the order of the CIT and ITAT deleting the disallowance - on merits disallowance was based solely on third party information, which was not subjected to any further scrutiny - Petitions are dismissed
Disallowance based on third party information gathered by Investigation Wing of the Department - AO denied opportunity of cross examination - High Court affirmed the order of the CIT and ITAT deleting the disallowance - on merits disallowance was based solely on third party information, which was not subjected to any further scrutiny - Petitions are dismissed
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
