[aaykarbhavan] No concealment penalty if sum treated as capital receipt was disclosed in notes to accounts and return

No concealment penalty if sum treated as capital receipt was disclosed in notes to accounts and return

August 19, 2015[2015] 60 taxmann.com 135 (Bombay)

IT : Where there was complete disclosure of facts by assessee that an amount of Rs. 1.11 crore, which was received on account of a project not being fructified, was credited to partner's capital account and assessee's claim was not found acceptable, no penalty could be imposed on assessee under section 271(1)(c

 

Regards

Prarthana Jalan

__._,_.___

---

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

---

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Visit Your Group

• Privacy • Unsubscribe • Terms of Use