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. 40(a)(iib) with regard to surcharge on sales tax - contention of the Ld. AR is that expenditure mentioned in section 40(a)(iib) covers only expenditure which is incurred in consideration of obtaining some benefits or rights or license by the State Government in connection with conduct of business - element of quid pro quo in payments - the contention rejected - Additions confirmed.
Addition u/s. 40(a)(iib) with regard to surcharge on sales tax - contention of the Ld. AR is that expenditure mentioned in section 40(a)(iib) covers only expenditure which is incurred in consideration of obtaining some benefits or rights or license by the State Government in connection with conduct of business - element of quid pro quo in payments - the contention rejected - Additions confirmed.
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TaxTMI 
TaxTMI 
of 4915 
