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...
Exemption u/s 11 - assessee has not e-filed or not filed return within due date - The NFAC/Ld.CIT(A) ruled in favor of the Assessee, stating that the CBDT circular clarified that even belatedly filed returns could be eligible for exemption under section 11, as long as filed within the time allowed under section 139. The Appellate Tribunal concurred with this decision, emphasizing the applicability of the circular and relevant case law, affirming the Assessee's eligibility for exemption under section 11.
Exemption u/s 11 - assessee has not e-filed or not filed return within due date - The NFAC/Ld.CIT(A) ruled in favor of the Assessee, stating that the CBDT circular clarified that even belatedly filed returns could be eligible for exemption under section 11, as long as filed within the time allowed under section 139. The Appellate Tribunal concurred with this decision, emphasizing the applicability of the circular and relevant case law, affirming the Assessee's eligibility for exemption under section 11.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
