TMI BlogPenalty u/s 271(1)(c) - capital gain have been directly credited to capital reserve account in the...Penalty u/s 271(1)(c) - capital gain have been directly credited to capital reserve account in the balance-sheet, whereas as per the AO such capital gain should have been credited in the profit and loss account only - mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars - no penalty - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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