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2 results for “bogus purchases”+ Section 340clear

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Key Topics

Section 271(1)(c)4

M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

C.A. No.-007115-007115 - 2005Supreme Court06 Feb 2007
For Respondent: Commissioner of Income Tax, Delhi-I
Section 260ASection 271(1)(c)Section 68

340 of 2004 filed by the Revenue and held that the Tribunal was not right in deleting the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961 (for short "the Act") merely on the ground that the total income of the assessee was assessed at a minus figure/loss. Tribunal had allowed the assessee’s appeal remitting

NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

C.A. No.-001008-001008 - 2020Supreme Court03 Apr 2020

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

Section 142(1)
Section 143
Section 143(2)
Section 148

purchase and sale. It is true, as the High Court has observed, that this information could have been acquired by the Income Tax Officer if he had exercised due diligence at the time of the original assessment itself. It does not appear, however,   that   the   attention   of   the   Income   Tax   Officer   was directed by anything before him to the fact