Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Levy of penalty u/s 271(1)(c) - Non disclosing capital gains on sale of goodwill - The transferee company, in its published accounts, recognized goodwill and it cannot be said that the assessee was not aware of the goodwill. Thus, we are of the opinion that it is a clear case of concealment of income by filing inaccurate particulars. - As assessee has deliberately made an attempt not to disclose true facts, levy of penalty confirmed - AT
Levy of penalty u/s 271(1)(c) - Non disclosing capital gains on sale of goodwill - The transferee company, in its published accounts, recognized goodwill and it cannot be said that the assessee was not aware of the goodwill. Thus, we are of the opinion that it is a clear case of concealment of income by filing inaccurate particulars. - As assessee has deliberately made an attempt not to disclose true facts, levy of penalty confirmed - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
