Saturday, July 4, 2020

SC dismissed SLP filed against ruling deleting concealment penalty as it was levied after expiry of limitation period

INCOME TAX : Where High Court upheld Tribunal's order deleting penalty imposed on assessee under section 271(1)(c) on basis that it was levied after expiry of limitation period prescribed under section 275(1)(a), SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2VKI404

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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...