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Commissioner of Income-Tax Versus Thakur Prasad Sao and Sons (P.) Ltd.

2016 (11) TMI 722 - CALCUTTA HIGH COURT

Penalty under section 271(1)(c) - AO was of the opinion that the expenditure should be allowable over a period of five years which is also the period during which the mining is to be conducted - Held that:- Disclosure and concealment cannot co-exist. .....

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ial on record to indicate that the particulars furnished by the assessee were factually incorrect. As held in Reliance Petroproducts [2010 (3) TMI 80 - SUPREME COURT ] merely making a claim which is not sustainable in law by itself will not amount to .....

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016 - Girish Chandra Gupta And Arindam Sinha, JJ. For the Appellant : P. Dhudhoria, Advocate For the Respondent : J. P. Khaitan, Senior Advocate, and P. Jhunjhunwala, Advocate JUDGMENT 1. The appeal is directed against the judgment and order dated Au .....

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e aggrieved Revenue has once again come up in appeal. The following substantial question of law was formulated on February 8, 2010 when the appeal was admitted : "Whether in the facts and circumstances of the case, the learned Tribunal erred in .....

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lty under section 271(1)(c) of the Income-tax Act, 1961 ?" 2. After hearing the learned advocates for the parties, it is amply clear that the assessee did not accept the disallowance. As a matter of fact, there was no disallowance as such. The a .....

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a period of five years which is also the period during which the mining is to be conducted. The assessee accepted that order and revised the subsequent returns. In the facts of the case, both the Commissioner of Income-tax (Appeals) and the learned .....

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y lead this court to take any other view. Mr. Khaitan, learned senior advocate for the assessee has drawn our attention to a judgment of this court in the case of CIT v. Pilani Investments and Industries Corporation Ltd. reported in [2016] 383 ITR 63 .....

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