Wednesday, November 27, 2019

No concealment penalty if no addition was made to assessee's income over & above declared income; SLP dismissed

INCOME TAX : Where High Court upheld Triabunal's order holding that in absence of any addition made to assessee's income over and above declared income while completing assessment under section 153C, penalty could not be imposed under section 271(1)(c), SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2KVKh3u

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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...