https://www.taxtmi.com/highlights?id=2704 Though assessee furnished the director’s report, the actual write off, filing of balance sheets, memorandum and articles of association, letter to DISL etc. however, the assessee did not bring to the notice of the A.O. that no interest from the converted loan had been offered and assessed to income tax in any of the earlier previous years. - Penalty confirmed.... - HC en-us Tue, 17 Jan 2012 15:35:20 +0530 Tue, 17 Jan 2012 15:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=2704 Though assessee furnished the director’s report, the actual write off, filing of balance sheets, memorandum and articles of association, letter to DISL etc. however, the assessee did not bring to the notice of the A.O. that no interest from the converted loan had been offered and assessed to income tax in any of the earlier previous years. - Penalty confirmed.... - HC Highlights Income Tax Tue, 17 Jan 2012 15:35:20 +0530 https://www.taxtmi.com/highlights?id=2704