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...
Period of limitation for imposing penalties rationalized. Reference to date of receipt of appellate order by Principal Chief Commissioner or Chief Commissioner omitted from section 275 to remove ambiguity in calculating limitation period. Effective from October 1, 2024.
Period of limitation for imposing penalties rationalized. Reference to date of receipt of appellate order by Principal Chief Commissioner or Chief Commissioner omitted from section 275 to remove ambiguity in calculating limitation period. Effective from October 1, 2024.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
