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...
Bidding expenditure u/s 37 (1) - whether expenditure as incurred for setting up a new line of business? - Deduction towards Interest on the share application money forwarded to the subsidiary company - The high court agreed with the findings of the ITAT that the expenditures in question were incurred as part of the assessee's business operations and thus were deductible.
Bidding expenditure u/s 37 (1) - whether expenditure as incurred for setting up a new line of business? - Deduction towards Interest on the share application money forwarded to the subsidiary company - The high court agreed with the findings of the ITAT that the expenditures in question were incurred as part of the assessee's business operations and thus were deductible.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
