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 u/s 40A(3) - substantial cash purchases - the parties have confirmed the sales made to the assessee and this was the first year of assessee’s business - assessee was constrained to make the cash purchases due to ‘exceptional or unavoidable circumstances’, as envisaged in 6 DD (j) of the Rules - no addition
Addition u/s 40A(3) - substantial cash purchases - the parties have confirmed the sales made to the assessee and this was the first year of assessee’s business - assessee was constrained to make the cash purchases due to ‘exceptional or unavoidable circumstances’, as envisaged in 6 DD (j) of the Rules - no addition
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
