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Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Assessee had not filed revised return voluntarily, but had filed ...

Income Tax

December 13, 2014

Assessee had not filed revised return voluntarily, but had filed the revised return after the AO confronted the assessee and they were asked to explain how and why loss on account of sale of fixed assets was claimed in the profit and loss account – the levy of penalty upheld u/s 271(1)(c) - HC

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  10. Claim of expenditure in the revised return - Once, the assessee has realized that the claim was wrongly not made, the assessee has every right to revise the return...

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