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...
Deduction of expenses from capital gain - Amount paid to avoid to litigation, claimed as deduction against the short-term capital gain - sham transaction - The revenue did not initiate proceedings against the company involved in the transaction - The assessee cannot be subjected to tax for the capital gain on the amount mentioned in the memorandum of understanding - Additions deleted - AT
Deduction of expenses from capital gain - Amount paid to avoid to litigation, claimed as deduction against the short-term capital gain - sham transaction - The revenue did not initiate proceedings against the company involved in the transaction - The assessee cannot be subjected to tax for the capital gain on the amount mentioned in the memorandum of understanding - Additions deleted - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
