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...
Procedure for recording statement u/s 108 - When the petitioners’ case is verified with reference to the available material on record, it creates prima facie suspicion on the version projected by the petitioners. Further, the investigation is in the nascent stage and not yet completed. In these circumstances, it is not apposite to rush to the conclusion that the statements of the petitioners 2 to 5 were recorded by the authorities by applying threat or coercion. - HC
Procedure for recording statement u/s 108 - When the petitioners’ case is verified with reference to the available material on record, it creates prima facie suspicion on the version projected by the petitioners. Further, the investigation is in the nascent stage and not yet completed. In these circumstances, it is not apposite to rush to the conclusion that the statements of the petitioners 2 to 5 were recorded by the authorities by applying threat or coercion. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
