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...
Unexplained money u/s 69A - deposits in bank account during the demonetization period - joint bank account of husband wife - family settlement - The Appellate Tribunal noted that the appellant's wife had filed a settlement deed and affidavit confirming the source of the cash deposits, which were from her own savings. It observed that the appellant's wife had provided sufficient evidence to support the source of certain cash deposits. - The addition made by the lower authorities was deemed unsustainable, and thus, the same was directed to be deleted.
Unexplained money u/s 69A - deposits in bank account during the demonetization period - joint bank account of husband wife - family settlement - The Appellate Tribunal noted that the appellant's wife had filed a settlement deed and affidavit confirming the source of the cash deposits, which were from her own savings. It observed that the appellant's wife had provided sufficient evidence to support the source of certain cash deposits. - The addition made by the lower authorities was deemed unsustainable, and thus, the same was directed to be deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
