Court Upholds Penalty for Non-Disclosure of Land and Windmill Sale u/s 271(1)(c); Highlights Tax Disclosure Importance.

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....Penalty u/s. 271(1)(c) - non disclosure of sale the lands and windmill - As carefully perused the penalty order dated 25.09.2015 and we find that the Assessing Officer considered all the factual aspects raised by the assessee and rejected the same to be absolutely without bonafides. - HC....