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 45(4) on account of revaluation of assets - distribution of the revaluation amount to the partners capital accounts during the continuation of the firm - the revaluation of the assets of the firm and crediting of the capital accounts of the partners could not have been brought within the meaning of Sec. 45(4) of the Act. - AT
Addition u/s 45(4) on account of revaluation of assets - distribution of the revaluation amount to the partners capital accounts during the continuation of the firm - the revaluation of the assets of the firm and crediting of the capital accounts of the partners could not have been brought within the meaning of Sec. 45(4) of the Act. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
