The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the vagueness and ambiguity in recording of satisfaction would nullify the entire penalty proceedings under section 271(1)(c) of the Income tax Act. During the course of re-assessment proceedings, the Assessing Officer made addition of Rs.46,66,665/- on account of amount received by the assessee by […]
The post Vagueness and Ambiguity in recording of Satisfaction would nullify Penalty Proceedings: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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