The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that a mere change in the heads of income would not attract penalty under the Income Tax Act, 1961. The assessee claimed that the transactions relating to mutual fund constituted part of his business and therefore the loss arising out of […]
The post Mere Change in ‘Heads of Income’ won’t attract Penalty: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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