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Income Tax - Highlights / Catch Notes

Home Highlights September 2020 Year 2020 This

Levy of penalty u/s 271(1)(c) - it was the assessee which has ...


Penalty u/s 271(1)(c) Deleted as Assessee's Property Value Details Found Sufficient and Accurate by Appeals Authority.

September 30, 2020

Case Laws     Income Tax     AT

Levy of penalty u/s 271(1)(c) - it was the assessee which has actually provided all the details in respect of value of properties which were purchased from Financial Year 1990-91 onwards and the respective written down value at the end of each year before the lower authorities. It was the very same details that were furnished by the assessee which was placed reliance by the ld. CIT(A) while levying the penalty. - Penalty deleted - AT

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