Section 271E Penalty Overturned: Court Rules Business Decisions Are Not Revenue Authority's Domain.

Levying the penalty u/s 271E - loan received by the assessee had been squared off by way of conversion of loan into equity - the businessman (i.e. assessee) cannot be compelled by the revenue to conduct its business as per the whims and fancies of the revenue. - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X