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 - Scope of new Section 148A - conducting inquiry providing opportunity before issuance of notice - We are not satisfied by the reasoning part of the impugned order, more particularly, when the details were supplied by the petitioner. Hence, we are of the opinion that the matter requires consideration and the same is allowed. The impugned order dated 31.03.2022 is hereby quashed and set aside. The matter is remitted back to the respondent- Authority. - HC
Reopening of assessment u/s 147 - Scope of new Section 148A - conducting inquiry providing opportunity before issuance of notice - We are not satisfied by the reasoning part of the impugned order, more particularly, when the details were supplied by the petitioner. Hence, we are of the opinion that the matter requires consideration and the same is allowed. The impugned order dated 31.03.2022 is hereby quashed and set aside. The matter is remitted back to the respondent- Authority. - HC
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TaxTMI 
TaxTMI 
of 4916 
