Friday, March 6, 2020

SC dismissed SLP against HC's order deleting concealment penalty as assessee offered reasonable explanation

INCOME TAX : Where High Court upheld Tribunal's order deleting penalty under section 271(1)(c) on ground that assessee had rendered reasonable explanation in support of its claim for deduction under sec. 36(1)(iii), SLP filed against order of High Court was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/38uvzJz

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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...