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...
Nature of expenses - Disallowance on account of expenditure on consultancy and legal fees - - purpose for which the expenditure was incurred is specific and the claim of expenditure against Tax Consultancy under the column “Transaction Text” of ledger of Transactions, the term “Preparation of Amalgamation of MRPL with MIP” and “Lawyer fees for Merger” respectively mentioned, were not successfully rebutted by the assessee before us also. - Additions confirmed - AT
Nature of expenses - Disallowance on account of expenditure on consultancy and legal fees - - purpose for which the expenditure was incurred is specific and the claim of expenditure against Tax Consultancy under the column “Transaction Text” of ledger of Transactions, the term “Preparation of Amalgamation of MRPL with MIP” and “Lawyer fees for Merger” respectively mentioned, were not successfully rebutted by the assessee before us also. - Additions confirmed - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
