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...
Addition u/s 68 - each of the parties are assessed to Income Tax and as many of the loans have been repaid - The loan creditors in this case have also explained sources of sources. AO as well as the Ld. CIT(A) based their decisions on conjectures and surmises. - AT
Addition u/s 68 - each of the parties are assessed to Income Tax and as many of the loans have been repaid - The loan creditors in this case have also explained sources of sources. AO as well as the Ld. CIT(A) based their decisions on conjectures and surmises. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
