https://www.taxtmi.com/caselaws?id=400767 The appeal was filed against the assessment order passed by CIT(A) for Assessment Year 2012-13, where the appellant contested the assessment of income at a specific amount, contrary to the NIL income declared. The appellant's claims for benefits under sections 161 and 115U of the Act in relation to investments made by SARA Fund were denied by CIT(A). Disallowance of exemptions claimed under sections 10(34) and 10(38) on dividend income and capital gains from share sale of VCU by SARA Fund was also contested. The appellant challenged the denial of the opportunity to establish facts about VCU and the levy of interest under section 234B of the Act. Additionally, penalty proceedings under section 271(l)(c) for furnishing inaccurate particulars and concealing income were initiated by CIT(A), which the appellant disputed. en-us Tue, 17 Nov 2020 00:00:00 +0530 Thu, 19 Nov 2020 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400767 The appeal was filed against the assessment order passed by CIT(A) for Assessment Year 2012-13, where the appellant contested the assessment of income at a specific amount, contrary to the NIL income declared. The appellant's claims for benefits under sections 161 and 115U of the Act in relation to investments made by SARA Fund were denied by CIT(A). Disallowance of exemptions claimed under sections 10(34) and 10(38) on dividend income and capital gains from share sale of VCU by SARA Fund was also contested. The appellant challenged the denial of the opportunity to establish facts about VCU and the levy of interest under section 234B of the Act. Additionally, penalty proceedings under section 271(l)(c) for furnishing inaccurate particulars and concealing income were initiated by CIT(A), which the appellant disputed. Case-Laws Income Tax Tue, 17 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400767