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...
Accrual of interest income - By merely filing appeal by the assessee before the Hon’ble Delhi High Court, it cannot be said that interest was not accrued to the assessee. The onus was on the assessee to establish that loan was unrecoverable during the year under consideration and no such evidences having been filed.
Accrual of interest income - By merely filing appeal by the assessee before the Hon’ble Delhi High Court, it cannot be said that interest was not accrued to the assessee. The onus was on the assessee to establish that loan was unrecoverable during the year under consideration and no such evidences having been filed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
