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...
Assessment u/s 153A - profit from the sale of the plot - additions in the hands of broker / commission agent - unexplained and undisclosed income of the appellant - In the absence of any material forthcoming on record to show that any addition was made by the revenue in the hands of the vendor-Company or its Managing Director for receiving any unaccounted for cash amount of money in respect of the transaction of sale of Plot, no addition can be made in the hands of Broker - HC
Assessment u/s 153A - profit from the sale of the plot - additions in the hands of broker / commission agent - unexplained and undisclosed income of the appellant - In the absence of any material forthcoming on record to show that any addition was made by the revenue in the hands of the vendor-Company or its Managing Director for receiving any unaccounted for cash amount of money in respect of the transaction of sale of Plot, no addition can be made in the hands of Broker - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
