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Income Tax - Highlights / Catch Notes

Home Highlights August 2023 Year 2023 This

Penalty u/s 271(1)(c) - addition on account of the ALV of vacant ...

Income Tax

August 5, 2023

Penalty u/s 271(1)(c) - addition on account of the ALV of vacant commercial/self-occupied assets - The issue involved was debatable at the relevant point in time, which took a different turn only when this court delivered its judgment in Ansal Housing Finance & Leasing Co. Ltd. [2012 (11) TMI 323 - DELHI HIGH COURT] - No penalty - HC

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