[aaykarbhavan] Mere disallowance of exp. won't attract concealment penalty if assessee had made claim under bona fide belief

Mere disallowance of exp. won't attract concealment penalty if assessee had made claim under bona fide belief

December 12, 2014[2014] 51 taxmann.com 463 (Chandigarh - Trib.)/[2014] 32 ITR(T) 668 (Chandigarh - Trib.)

IT : Expenditure claimed for establishing airport being disallowed as not related to business of development authority, no concealment penalty could be levied

IT : Where taxability of instalment amounts received on sale of flat as a result of change of accounting method was remitted to Assessing Officer for de novo consideration, concealment penalty was to be deleted

 

Regards

Prarthana Jalan

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

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