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...
Benefit of the provisions of Section 10 (23C)(iiiab) - There is a sweeping difference in according the any assessee to the provisions of Section 12AA and Section 10(23C)(iiiab). The conditions and requirements of registration under Section 12 AA and the conditions and prerequisites for the claiming the benefit u/ s 10(23C)(iiiab) differs. We also find that the assessee has been granted registration u/s 12 AA from the provisions of the Act and on going through the various judgments, we hereby hold that the assessee is not entitled to the benefit of Section 10(23C)(iiiab). - AT
Benefit of the provisions of Section 10 (23C)(iiiab) - There is a sweeping difference in according the any assessee to the provisions of Section 12AA and Section 10(23C)(iiiab). The conditions and requirements of registration under Section 12 AA and the conditions and prerequisites for the claiming the benefit u/ s 10(23C)(iiiab) differs. We also find that the assessee has been granted registration u/s 12 AA from the provisions of the Act and on going through the various judgments, we hereby hold that the assessee is not entitled to the benefit of Section 10(23C)(iiiab). - AT
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TaxTMI 
TaxTMI 
of 4915 
