2 results for “penalty u/s 271”+ Section 58clear
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Bench: Shri S.S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.243/Ran/2016 आयकरअपीलसं./Ita No.207/Ran/2017 ("नधा"रणवष" / Assessment Year:2009-10)
58,000/-. We note that during the course of assessment proceedings, the assessee submitted before the Assessing Officer as well as before the ld. CIT(A) that section 50C of the Act is not applicable to him because of the reason that purpose to purchase the land was to convert into small pieces of plots and sale the same