https://www.taxtmi.com/caselaws?id=375838 The ITAT affirmed the CIT(A)'s decision allowing the assessee to spread the taxability of capital contributions over five years. It upheld the enhancement of income by Rs. 1,70,25,850/- for AY 2012-13 and the initiation of penalty proceedings for concealment of income under section 271(1)(c). The ITAT's ruling was based on consistency with prior years' practices and established precedents in similar cases. en-us Tue, 19 Feb 2019 00:00:00 +0530 Tue, 26 Feb 2019 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375838 The ITAT affirmed the CIT(A)'s decision allowing the assessee to spread the taxability of capital contributions over five years. It upheld the enhancement of income by Rs. 1,70,25,850/- for AY 2012-13 and the initiation of penalty proceedings for concealment of income under section 271(1)(c). The ITAT's ruling was based on consistency with prior years' practices and established precedents in similar cases. Case-Laws Income Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375838