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Income Tax - Highlights / Catch Notes

Home Highlights December 2018 Year 2018 This

Penalty u/s 271(1)(c) - loss on sale of shares - change in head ...


Penalty u/s 271(1)(c) Overturned: Income Reclassification Not Inaccurate or Suppressive, No Penalty Imposed.

December 22, 2018

Case Laws     Income Tax     AT

Penalty u/s 271(1)(c) - loss on sale of shares - change in head of income by AO - merely change of head of income cannot characterize furnishing inaccurate particulars or suppression of facts - No penalty.

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