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. 68 - cash received by assessee (co-operative society) from its members during the demonetisation period in Specified Bank Notes - Not every deposit during the demonetisation period would fall under category of unaccounted cash. The burden is on the assessee to establish the genuineness of the deposit in order to fall outside the scope of unaccounted cash. - Matter restored back to AO for fresh consideration - AT
Addition u/s. 68 - cash received by assessee (co-operative society) from its members during the demonetisation period in Specified Bank Notes - Not every deposit during the demonetisation period would fall under category of unaccounted cash. The burden is on the assessee to establish the genuineness of the deposit in order to fall outside the scope of unaccounted cash. - Matter restored back to AO for fresh consideration - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
