Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily disclosed and paid tax on income during reassessment proceedings - Following jurisdictional High Court decisions, if assessee files correct income during reassessment and disclosure is accepted without adjustment, no penalty u/s 271(1)(c) is leviable - Decided in favor of assessee.
Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily disclosed and paid tax on income during reassessment proceedings - Following jurisdictional High Court decisions, if assessee files correct income during reassessment and disclosure is accepted without adjustment, no penalty u/s 271(1)(c) is leviable - Decided in favor of assessee.
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