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 on account of loss of sales of stock - assessee did not submit any stock statement and the bank considered the stock of the company as Nil - The expert has given his exhaustive report and concluded that stocks after 4 1/2 years will deteriorate and will hardly have any value. - CIT(A) has rightly allowed the claim of the assessee
Addition on account of loss of sales of stock - assessee did not submit any stock statement and the bank considered the stock of the company as Nil - The expert has given his exhaustive report and concluded that stocks after 4 1/2 years will deteriorate and will hardly have any value. - CIT(A) has rightly allowed the claim of the assessee
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
