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Income Tax - Highlights / Catch Notes

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Penalty u/s 271(1)(c) - addition invoking provision of Section ...


Penalty u/s 271(1)(c) Not Warranted for Higher Valuation Referral by DVO in Property Sale.

April 17, 2020

Case Laws     Income Tax     AT

Penalty u/s 271(1)(c) - addition invoking provision of Section 50C - when in respect of sale of property, matter was referred to DVO to determine sale consideration at a higher amount, that by itself would not amount to furnishing inaccurate particulars of income so as to levy penalty u/s 271(1)(c) - AT

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