VIGILANCE SECURITY SERVICES (P) LTD., SEC'BAD,HYDERABAD vs. ACIT (OSD), RANGE-3, HYD, HYDERABAD
In the result, appeal of assessee is allowed
ITA 35/HYD/2016[2011-12]Status: DisposedITAT Hyderabad19 Jan 2018AY 2011-12
Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah
For Appellant: Shri Y. Ratnakar, ARFor Respondent: Smt. Suman Malik, DR
Section 115JSection 143(2)Section 234ASection 234BSection 234CSection 271(1)(c)
234C
-
Rs. 2,31,526
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Tax payable
-
Rs. 68,33,490
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However, he has initiated penalty proceedings u/s. 271(1)(c).
3. In the proceedings, assessee submitted that they were advised wrongly by their counsel that Long Term Capital Gain was also exempt under the provisions of MAT and once it has been
I.T.A. No. 35/Hyd/2016
:- 3 -:
pointed out that
