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 - eligible reasons to believe - In the instant case, as stated by the respondent in the affidavit-in- reply, the petitioner had not deducted the TDS as detailed in Annexure 6 to form 3CD and therefore, the same was not taken into consideration by the Assessing Officer while passing the order under Section 143(3) of the Act. When the said material was not considered at the time of original assessment on 30.12.2016, the consideration of the same by the respondent could not be said to be a change of opinion or review of earlier order. - HC
Reopening of assessment u/s 147 - eligible reasons to believe - In the instant case, as stated by the respondent in the affidavit-in- reply, the petitioner had not deducted the TDS as detailed in Annexure 6 to form 3CD and therefore, the same was not taken into consideration by the Assessing Officer while passing the order under Section 143(3) of the Act. When the said material was not considered at the time of original assessment on 30.12.2016, the consideration of the same by the respondent could not be said to be a change of opinion or review of earlier order. - HC
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TaxTMI 
TaxTMI 
of 4916 
