Penalty Imposed for Non-Disclosure of Dual Benefits on Capital Goods u/s 32 of Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Cenvat credit - Capital goods - Respondents have also claimed depreciation under Section 32 of Income Tax Act - respondents suppressed the facts before the department on availing simultaneous benefit - levy of penalty confirmed - AT....