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-genuine unsecured loan u/s. 68 - When part of the loans taken from the same lender has been accepted by the Assessing Officer as genuine, then it is not understandable as to why the balance loan taken from the same lender should be treated as non-genuine on the ground that no “confirmation” from the said the lender has been filed. - AT
Non-genuine unsecured loan u/s. 68 - When part of the loans taken from the same lender has been accepted by the Assessing Officer as genuine, then it is not understandable as to why the balance loan taken from the same lender should be treated as non-genuine on the ground that no “confirmation” from the said the lender has been filed. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
