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Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Penalty u/s 271(1)(c) - it is one of the rare cases wherein even ...


Penalty Deleted: Section 271(1)(c) Inapplicable Due to Asset Demolition Before Valuation u/s 50C by DVO.

March 6, 2014

Case Laws     Income Tax     AT

Penalty u/s 271(1)(c) - it is one of the rare cases wherein even working of section 50C cannot really be effective at all inasmuch as the very asset, which was required to be valued by DVO, was demolished before valuation could take place - penalty deleted - AT

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