Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Penalty u/s 271(1)(c) - Defective notice u/s 274 - in the assessment order, AO has made it clear that penalty proceedings are initiated separately for furnishing inaccurate particulars of income, therefore the AO has already indicated that why the penalty proceedings are initiated. - Though the notice u/s 274 has been found as valid, the penalty levied on the estimation of income deleted - AT
Penalty u/s 271(1)(c) - Defective notice u/s 274 - in the assessment order, AO has made it clear that penalty proceedings are initiated separately for furnishing inaccurate particulars of income, therefore the AO has already indicated that why the penalty proceedings are initiated. - Though the notice u/s 274 has been found as valid, the penalty levied on the estimation of income deleted - AT
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