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...
Block assessment - computation of undisclosed income of block period under Section 158BB - Reliance on material gathered in the course of survey - the Tribunal set aside the order of the CIT(A) and decided the case in favour of the assessee, by holding that the material gathered in the course of survey are to be treated as disclosed for the purpose of Income Tax Act and it cannot be sued for computation of undisclosed income of block period under section 158BB. This court is of the opinion that the finding so rendered by the Tribunal is erroneous and bad in law - HC
Block assessment - computation of undisclosed income of block period under Section 158BB - Reliance on material gathered in the course of survey - the Tribunal set aside the order of the CIT(A) and decided the case in favour of the assessee, by holding that the material gathered in the course of survey are to be treated as disclosed for the purpose of Income Tax Act and it cannot be sued for computation of undisclosed income of block period under section 158BB. This court is of the opinion that the finding so rendered by the Tribunal is erroneous and bad in law - HC
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TaxTMI 
TaxTMI 
of 4916 
