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...
Non granting of TDS credit - assessment in hands of HUF v/s Karta [individual] - In the present case the KARTA of HUF has not claimed the TDS in the individual’s returns. The A.O. cannot deny the credit of TDS in the assessee’s name when the corresponding capital gain on the said transaction was taxed in the assessee HUF’s name and cannot take benefit of the mistake crept in, in the sale deed. - AT
Non granting of TDS credit - assessment in hands of HUF v/s Karta [individual] - In the present case the KARTA of HUF has not claimed the TDS in the individual’s returns. The A.O. cannot deny the credit of TDS in the assessee’s name when the corresponding capital gain on the said transaction was taxed in the assessee HUF’s name and cannot take benefit of the mistake crept in, in the sale deed. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
