45 results for “penalty u/s 271”+ Carry Forward of Lossesclear
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Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 2207/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14
loss account was redrawn after revaluation of opening and closing stock, including excess stock found during the course of search, which resulted in undervaluation of stock of Rs. 18,30,77,920/-. The assessee firm has admitted undeclared :-5-: ITA. No: 2207/Chny/2019 income towards undervaluation of stock and agreed to pay tax. 4. Consequent to search, the assessment has been