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...
AO issued notice u/s 148A(b) making certain allegations. However, in subsequent order u/s 148A(d), AO raised grounds at variance with initial allegations in 148A(b) notice. HC held this deprived assessee of effective opportunity to explain information didn't indicate escaped income. AO didn't consider assessee's claim that alleged escaped income was disclosed and assessed. HC set aside 148A(b) notice and 148A(d) order.
AO issued notice u/s 148A(b) making certain allegations. However, in subsequent order u/s 148A(d), AO raised grounds at variance with initial allegations in 148A(b) notice. HC held this deprived assessee of effective opportunity to explain information didn't indicate escaped income. AO didn't consider assessee's claim that alleged escaped income was disclosed and assessed. HC set aside 148A(b) notice and 148A(d) order.
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TaxTMI 
TaxTMI 
of 4916 
