Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
MAT computation - Disallowance of Debenture Redemption Reserve[DRR] - it is not the Assessing Officer who has ‘increased’ the amount of Net Profits, on the contrary it is the Appellant who had ‘reduced’ the Net Profits as shown in the audited Profit & Loss Account prepared as per the provisions of the Companies Act by the amount of Debenture Redemption Reserve created during the relevant previous year - Additions confirmed - AT
MAT computation - Disallowance of Debenture Redemption Reserve[DRR] - it is not the Assessing Officer who has ‘increased’ the amount of Net Profits, on the contrary it is the Appellant who had ‘reduced’ the Net Profits as shown in the audited Profit & Loss Account prepared as per the provisions of the Companies Act by the amount of Debenture Redemption Reserve created during the relevant previous year - Additions confirmed - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
