Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Rectification of mistake u/s 154 - AO issued notice u/s 154 based on audit objections, adding waiver of principal amount and revising book profit. Tribunal dismissed Revenue's appeal citing tax effect. CIT (A) allowed assessee's appeal, quashing audit objection merged into CIT (A) order. Tribunal dismissed Revenue's Miscellaneous Application, stating appeal not due to audit objection acceptance. Case not falling under CBDT Circular No. 3/2018 exceptions. High Court = HC.
Rectification of mistake u/s 154 - AO issued notice u/s 154 based on audit objections, adding waiver of principal amount and revising book profit. Tribunal dismissed Revenue's appeal citing tax effect. CIT (A) allowed assessee's appeal, quashing audit objection merged into CIT (A) order. Tribunal dismissed Revenue's Miscellaneous Application, stating appeal not due to audit objection acceptance. Case not falling under CBDT Circular No. 3/2018 exceptions. High Court = HC.
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