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...
Loss in F&O transaction investigation wing has carried on survey operation under section 133A in the premises of brokers and certain clients - Since the transaction was made through banking channel and settlement was already made for this transaction, that means the transaction must be completed subsequent to the completion of this transaction. So the broker cannot make modification after closure of the trading for the particular day. No factual submission coming from revenue and the addition was made by the assessing officer based on presumptions without any cogent material against the assessee - AT
Loss in F&O transaction investigation wing has carried on survey operation under section 133A in the premises of brokers and certain clients - Since the transaction was made through banking channel and settlement was already made for this transaction, that means the transaction must be completed subsequent to the completion of this transaction. So the broker cannot make modification after closure of the trading for the particular day. No factual submission coming from revenue and the addition was made by the assessing officer based on presumptions without any cogent material against the assessee - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
