12 results for “penalty u/s 271”+ Section 73clear
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In the result, the appeal of the Revenue is allowed
Section 72, 73\nand 73A of the Act and noted that the assessee was not entitled to\ncarry forward and set off of the business loss of ₹43,33,71,531/- as\nthe same is not as per the provisions of Income Tax Act. Finally, the\nId. AO assessed the loss at ₹2,74,27,701/- and also initiated