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...
LTCG computation - Exemption u/s 54F - Since entire amount of sale consideration has been invested in bands, therefore, provisions of s. 50C are not applicable - the AO has not brought evidence of receiving excess amount. The AO proceeded only on the basis of the value adopted by the Stamp Valuation Authorities. Thus as per the findings given by the Hon’ble Courts no addition is liable to be made. - AT
LTCG computation - Exemption u/s 54F - Since entire amount of sale consideration has been invested in bands, therefore, provisions of s. 50C are not applicable - the AO has not brought evidence of receiving excess amount. The AO proceeded only on the basis of the value adopted by the Stamp Valuation Authorities. Thus as per the findings given by the Hon’ble Courts no addition is liable to be made. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
