Section 14A Direct Taxes
Since the assessee’s profit and loss account showed only one item of expenditure which had been booked in the accounts and there was no exempt income earned by the assessee, the question of…
Section 271(1)(c) Direct Taxes
Where ground for imposition of penalty under section 271(1)(c) was ‘concealment’ and it was substituted by CIT(A) as ‘furnishing of inaccurate particulars of income’, there was absence of…
Section 24(b) Direct Taxes
As regards assessee not having shown any house property income, it must be appreciated that in case of self occupied property there would not be any income to be shown under ‘House…
Section 276C Direct Taxes
Having filed the compounding application the assessee cannot attempt to wriggle out of his obligations to pay the compounding charges by alleging that the same were exorbitant because amount…
Section 271(1)(c) Direct Taxes
A mere making of a wrong, though bona fide claim of depreciation, which is not sustainable in law, by itself will not amount to furnishing inaccurate particulars of income and therefore, such…