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...
Addition u/s.56(2)(vii)(b)(ii) - difference between the value fixed by the stamp duty authorities and the sale consideration - Government of Tamil Nadu has reduced the circle rates of the property w.e.f.2017 - DVO should consider the subsequent downward revision of guideline value for the purpose of registration of properties i.e., the circle rate and give weightage to the same and then estimate the fair market value of the property.- AT
Addition u/s.56(2)(vii)(b)(ii) - difference between the value fixed by the stamp duty authorities and the sale consideration - Government of Tamil Nadu has reduced the circle rates of the property w.e.f.2017 - DVO should consider the subsequent downward revision of guideline value for the purpose of registration of properties i.e., the circle rate and give weightage to the same and then estimate the fair market value of the property.- AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
