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 of bogus purchases - Addition @ 12.5% of the aggregate of disputed purchases - Even the entire transaction are not verifiable the lower authorities are entitled to tax the income component of transaction only - AO has made a reasonable disallowance, which does not require any interference - AT
Disallowance of bogus purchases - Addition @ 12.5% of the aggregate of disputed purchases - Even the entire transaction are not verifiable the lower authorities are entitled to tax the income component of transaction only - AO has made a reasonable disallowance, which does not require any interference - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
