M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I
C.A. No.-007115-007115 - 2005Supreme Court06 Feb 2007
For Respondent: Commissioner of Income Tax, Delhi-I
Section 260ASection 271(1)(c)Section 68
140 (Calcutta High Court, CIT v. R.G.
Sales (P) Ltd.), all the aforesaid decisions support the
assessee’s contention that even after 1.4.1976 if there is no
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positive income, no taxes leviable, no penalty can be levied for
concealment of income.
Predominant majority of High Courts to which reference
