Wednesday, May 23, 2018

HC justified levy of concealment penalty as assessee had claimed dep. on non-existing assets

IT : Where assessee claimed depreciation on non-existent assets, penalty under section 271(1)(c) was to be levied for filing inaccurate particulars of income

from www.taxmann.com Latest Case Laws https://ift.tt/2IKHhnv

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...