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Income Tax - Highlights / Catch Notes

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Penalty u/s 271(1)(c) - bogus gifts - The assessee is no more ...


No Penalty Imposed on Legal Heir for Bogus Gift Charges u/s 271(1)(c) After Deceased Assessee's Death.

October 17, 2015

Case Laws     Income Tax     AT

Penalty u/s 271(1)(c) - bogus gifts - The assessee is no more and expired on 26.09.2006. The penalty proceedings were completed on legal heir i.e. Dr. K.C. Garg, who was in practice for more than 25 years out of India. - No penalty - AT

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