Thursday 24 September 2015

Particulars of MAT credit can't be said to be particulars of income for levying concealment penalty

IT : Income contemplated under section 271(1)(c) is income on which taxes are to be computed and paid, particulars of MAT credit furnished in return of income cannot be said to be particulars of 'income' for purpose of levying penalty under section 271(1)(c)

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