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...
Maintainability of appeal against Scrutiny assessment u/s 143(3) or intimation u/s 143(1) - Cause of action - The ITAT notes that the assessment under section 143(3) solely relies on adjustments made in the intimation under section 143(1), with no independent discussion on the assessed income. - However, it is established that the cause of action for the appeal arises from the intimation under section 143(1), and no cause of action arises from the order passed under section 143(3) of the Act. - Ultimately, the appeal filed by the assessee is dismissed.
Maintainability of appeal against Scrutiny assessment u/s 143(3) or intimation u/s 143(1) - Cause of action - The ITAT notes that the assessment under section 143(3) solely relies on adjustments made in the intimation under section 143(1), with no independent discussion on the assessed income. - However, it is established that the cause of action for the appeal arises from the intimation under section 143(1), and no cause of action arises from the order passed under section 143(3) of the Act. - Ultimately, the appeal filed by the assessee is dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
