2,219 results for “disallowance”+ Section 271(1)(b)clear
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In the result, the appeal of the assessee is allowed
Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma
Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed the penalty imposed as under: “5.3.1 (b) Addition of Rs. 2,33,69,140/- on account of disallowance