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...
Unexplained credit in the capital account - Impugned order shows that in spite of repeated notices issued, except seeking adjournment, the assessee did not cooperate with the first appellate authority nor any attempt was made to produce the information that was sought by the AO. Even before us also, the assessee is not diligent to prosecute this appeal. For want of evidence or material supporting the claims of the assessee, it is not possible for us to take a different view that was taken by the authorities. - AT
Unexplained credit in the capital account - Impugned order shows that in spite of repeated notices issued, except seeking adjournment, the assessee did not cooperate with the first appellate authority nor any attempt was made to produce the information that was sought by the AO. Even before us also, the assessee is not diligent to prosecute this appeal. For want of evidence or material supporting the claims of the assessee, it is not possible for us to take a different view that was taken by the authorities. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
