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Income Tax - Highlights / Catch Notes

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Levy of penalty u/s 271(1)(c) - merely treating the business ...


Reclassifying Business Loss as Speculation Loss Doesn't Justify Penalty u/s 271(1)(c) for Income Concealment.

October 21, 2016

Case Laws     Income Tax     AT

Levy of penalty u/s 271(1)(c) - merely treating the business loss as speculation loss by the AO does not automatically warrant inference of concealment of income or furnishing of inaccurate particulars of income - AT

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