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...
Reopening of assessment u/s 147 - Disallowing claim of weighted deduction of 175% under section 35(l)(ii) on the ground that donation receipt is not submitted - Allegation of providing accommodation entries - upon reopening on the basis of the same information the Assessing Officer made the assessment disallowing the payment. There is no further material brought on record by the Assessing Officer. The assessee has submitted the payment evidence. The same was through banking channel. - Claim cannot be denied - AT
Reopening of assessment u/s 147 - Disallowing claim of weighted deduction of 175% under section 35(l)(ii) on the ground that donation receipt is not submitted - Allegation of providing accommodation entries - upon reopening on the basis of the same information the Assessing Officer made the assessment disallowing the payment. There is no further material brought on record by the Assessing Officer. The assessee has submitted the payment evidence. The same was through banking channel. - Claim cannot be denied - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
