Assessee Faces Penalty for Misrepresenting Capital Loss as Revenue Loss Under Income Tax Act Section 271(1)(c.

Assessee Faces Penalty for Misrepresenting Capital Loss as Revenue Loss Under Income Tax Act Section 271(1)(c. https://www.taxtmi.com/highlights?id=49496 Penalty u/s 271(1)(c) - assessee was very well aware that it was deliberately showing capital account transaction loss as loss on revenue account. Hence by no stretch of imagination it can be said that there was any inadvertent error. - AT en-us Fri, 27 Sep 2019 06:40:00 +0530 Fri, 27 Sep 2019 06:40:00 +0530 TaxTMI RSS Generator Assessee Faces Penalty for Misrepresenting Capital Loss as Revenue Loss Under Income Tax Act Section 271(1)(c. https://www.taxtmi.com/highlights?id=49496 Penalty u/s 271(1)(c) - assessee was very well aware that it was deliberately showing capital account transaction loss as loss on revenue account. Hence by no stretch of imagination it can be said that there was any inadvertent error. - AT Highlights Income Tax Fri, 27 Sep 2019 06:40:00 +0530 https://www.taxtmi.com/highlights?id=49496