TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The ITAT dismissed the assessee's appeal, upholding the levy of penalty under s.271(1)(c) insofar as it relates to additions confirmed by the Tribunal; the assessee failed to demonstrate any error in the quantum of additions as upheld by CIT(A) and ITAT. The rectification under s.154 by DCIT, which granted carry-forward of past losses inadvertently omitted, did not constitute a computational mistake affecting the confirmed additions and therefore does not mitigate penalty exposure. Because no infirmity was shown in the appellate order, no recalibration of the penalty relative to the s.154 reduction was warranted and the impugned assessment and penalty stand affirmed.
TaxTMI 
TaxTMI 
