Wednesday, November 13, 2019

Additional Sum offered to buy peace of mind doesn’t mean that initial disclosure before SetCom wasn’t full & true

IT : Where assessee had not accepted liability of 5% of trading expenses, but in spirit of settlement offered to pay amount computed by Assessing Officer with a view to bring quietus to matter and buy peace of mind, offer to pay such amounts in addition to amounts disclosed in applications under section 245Ccannot be said to be disclosure of any further amounts under that section

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000191578/additional-sum-offered-to-buy-peace-of-mind-doesn’t-mean-that-initial-disclosure-before-setcom-wasn’t-full-true.aspx

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