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...
Long Term Capital Gain - sale of property - diversion of income due to overriding title - whether the sale of the property has been made directly by the SBI and the sale consideration was appropriated to the loan amount? - if the money was routed through the bank account of the assessee before being finally appropriated towards the dues of M/s. PPPL, there cannot be diversion of income by overriding title.
Long Term Capital Gain - sale of property - diversion of income due to overriding title - whether the sale of the property has been made directly by the SBI and the sale consideration was appropriated to the loan amount? - if the money was routed through the bank account of the assessee before being finally appropriated towards the dues of M/s. PPPL, there cannot be diversion of income by overriding title.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
