No penalty if AO had accepted revised return without stating any deliberate concealment on part of assessee
October 8, 2014[2014] 49 taxmann.com 12 (Rajasthan)/[2014] 264 CTR 204 (Rajasthan)
IT : Concealment penalty not imposable where income declared by assessee from long-term capital gain by selling agricultural land in his revised return was accepted by assessing authority and there was no material available on record by which there could be an inference drawn by authority that it was a deliberate concealment on part of assessee
Transformation of assessee from small scale industry to large scale won't lead to denialof sec. 80-IB relief
October 8, 2014[2014] 49 taxmann.com 168 (Karnataka)
IT : Where a small scale industry in course of 10 years stabilizes early and makes further investments in business which results in its going outside purview of definition of a small scale industry, that does not come in way of its claiming benefit under section 80-IB for 10 consecutive years, starting from initial assessment year
Commission paid to proprietor's son for acquiring sales order was allowable as deduction
October 8, 2014[2014] 49 taxmann.com 58 (Ahmedabad - Trib.)/[2014] 160 TTJ 51 (Ahmedabad - Trib.)(UO)
IT : Where sub-agents, who were assessee's sons, acquired orders for assessee agent, commission paid to them was to be allowed
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