[aaykarbhavan] No penalty on denial of sec. 10B relief due to late collection of export proceeds on client’s disapproval

No penalty on denial of sec. 10B relief due to late collection of export proceeds on client's disapproval

July 1, 2014[2014] 45 taxmann.com 476 (Allahabad)

IT : Where accounts were duly audited and relevant report in Form 56G was furnished and payment was disclosed on receiving, there was no mala fide intention or element of concealment; penalty could not be levied

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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