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...
Addition u/s 69 - repayments of loan/creditor - The ITAT held that the loans were duly recorded in the books of accounts and repayments were made through banking channels. The transactions were reflected in the books and thus, the addition under Section 69 was deleted.
Addition u/s 69 - repayments of loan/creditor - The ITAT held that the loans were duly recorded in the books of accounts and repayments were made through banking channels. The transactions were reflected in the books and thus, the addition under Section 69 was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
