Penalty levied u/s.271(1)(c) - Valuation of Goodwill - the I.T. ...

Income Tax

August 18, 2016

Penalty levied u/s.271(1)(c) - Valuation of Goodwill - the I.T. Act does not clothe the taxing authorities with any power or jurisdiction to rewrite the terms of the Agreement arrived at between the parties with each other at arms length and with no allegation of any collusion between them. - HC

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Penalty levied u/s.271(1)(c) - Valuation of Goodwill - the I.T. ...

Income Tax

August 18, 2016

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Penalty u/s 271(1)(c) - The finding of the authorities based on the evidence of the valuer, which was corroborated by the circumstantial evidence - Levy of penalty confirmed - HC

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