Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
Reassessment of assessment u/s 147 - Reason to believe - unexplained credit - In the reasons recorded, it is nowhere mentioned as to who had given bogus entries/transactions to the assessee or to whom the assessee had given bogus entries or undertaken alleged transactions. It is also nowhere mentioned as to on which dates and through which mode and entity/companies the bogus entries and transactions were made by the assessee. - Reassessment order quashed - AT
Reassessment of assessment u/s 147 - Reason to believe - unexplained credit - In the reasons recorded, it is nowhere mentioned as to who had given bogus entries/transactions to the assessee or to whom the assessee had given bogus entries or undertaken alleged transactions. It is also nowhere mentioned as to on which dates and through which mode and entity/companies the bogus entries and transactions were made by the assessee. - Reassessment order quashed - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
