Thursday, August 16, 2018

No concealment penalty just because assessee made wrong claim of deduction: HC

IT : Penalty under section 271(1)(c) could not be imposed merely because assessee had claimed expenditure, which was not accepted or which was not acceptable to revenue

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

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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...