No penalty on failure disclose sum received as advance in ITR if it was duly disclosed in Balance Sheet: HC

IT : Where assessee, a cine artist, failed to show in return of income, amount received as advance from various cinema producers towards work to be done by her, but, said amount was duly reflected in balance sheet annexed to original return, there was no intention on part of assessee to conceal particulars of income; thus, penalty order passed under sec. 271(1)(c) was to be set aside

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