TMI BlogExempted capital gain wrongly shown in the belated return as taxable - just because the assessee...Exempted capital gain wrongly shown in the belated return as taxable - just because the assessee inadvertently or by ignorance has shown the exempt income as exigible to tax, the AO/CPC ought not to have treated the same as taxable income and thereby taxed the exempt income because Article 265 of the Constitution, title reads " Taxes not to be imposed saved by authority of law'' and the Article reads 'No tax shall be levied or collected except by authority of law'. Here in this case the Parliame..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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