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...
Calculation of Capital Gain - Non-Resident - Applicability of section 144C - eligible assessee - The appellant contested the rejection of their valuation report and the adoption of circle rates, arguing that the valuation report should have been relied upon. Discrepancies in the calculation of capital gains, particularly concerning brokerage expenses and stamp duty, were also highlighted. The Tribunal found merit in several of the appellant's arguments, directing the AO to reconsider certain aspects and providing relief to the appellant.
Calculation of Capital Gain - Non-Resident - Applicability of section 144C - eligible assessee - The appellant contested the rejection of their valuation report and the adoption of circle rates, arguing that the valuation report should have been relied upon. Discrepancies in the calculation of capital gains, particularly concerning brokerage expenses and stamp duty, were also highlighted. The Tribunal found merit in several of the appellant's arguments, directing the AO to reconsider certain aspects and providing relief to the appellant.
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TaxTMI 
TaxTMI 
of 4915 
