Penalty u/s 271(1)(c) - sale of land was not disclosed in the ...

No Penalty Imposed for Non-Disclosure of Land Sale Due to Lack of Evidence for Intentional Income Concealment.

December 15, 2023

Case Laws Income Tax AT

Penalty u/s 271(1)(c) - sale of land was not disclosed in the original return of income - additions during scrutiny assessment - the addition was made by invoking the “deeming provisions” under Section 56(2)(vii)(b) - nothing has been brought on record to demonstrate that the assessee had concealed the particulars of income or had deliberately furnished inaccurate particulars of income. - No penalty - AT

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Penalty u/s 271(1)(c) - sale of land was not disclosed in the ...

No Penalty Imposed for Non-Disclosure of Land Sale Due to Lack of Evidence for Intentional Income Concealment.

December 15, 2023

Case Laws Income Tax AT

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