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...
Revision u/s 263 - CIT observed that, AO had accepted the assessee's claim without making any verification with respect to the various expenses claimed against the capital gains and against its business income and since the same needed verification, the order passed by the Assessing Officer was, therefore, erroneous - there is no finding by the Ld. Pr.CIT of the assessment order being erroneous - Revision order set aside - AT
Revision u/s 263 - CIT observed that, AO had accepted the assessee's claim without making any verification with respect to the various expenses claimed against the capital gains and against its business income and since the same needed verification, the order passed by the Assessing Officer was, therefore, erroneous - there is no finding by the Ld. Pr.CIT of the assessment order being erroneous - Revision order set aside - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
