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...
Sec. 50C is a deeming provision and hence, the question of gift of property does not arise. - Since the transaction of gift is considered as taken place in the form of gift, the provision of sec. 47(iii) shall not apply to it - AT
Sec. 50C is a deeming provision and hence, the question of gift of property does not arise. - Since the transaction of gift is considered as taken place in the form of gift, the provision of sec. 47(iii) shall not apply to it - AT
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TaxTMI 
TaxTMI 
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