Wednesday, February 12, 2020

Additions of undisclosed income on estimation basis couldn't attract penalty under section 158BFA, SLP dismissed

INCOME TAX : Where Hight Court upheld Tribunal's order deleting penalty imposed under section 158 BFA on ground that addition to undisclosed income of assessee was on estimate basis rather than on account of deliberate suppression of income, SLP filed against said order was to be dismissed due to low tax effect

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

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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...