Court denies application to direct Tribunal to state case in penalty proceedings under section 271(1)(c) for falsely claimed losses. The High Court of Punjab and Haryana rejected the application to direct the Tribunal to state a case in penalty proceedings under section 271(1)(c) based ...
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Court denies application to direct Tribunal to state case in penalty proceedings under section 271(1)(c) for falsely claimed losses.
The High Court of Punjab and Haryana rejected the application to direct the Tribunal to state a case in penalty proceedings under section 271(1)(c) based on the assessee's falsely claimed losses, establishing a scheme to evade revenue. No additional reasons were required for justifying penalty proceedings, and the application was dismissed without costs.
The High Court of Punjab and Haryana rejected the application to direct the Tribunal to state a case in penalty proceedings. The court held that the finding of falsely claimed losses by the assessee was enough to establish a scheme to evade revenue, justifying penalty proceedings under section 271(1)(c). No additional reasons were deemed necessary. The application was rejected with no costs.
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