6 results for “penalty u/s 271”+ Business Incomeclear
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business on receiving approval from the Reserve Bank of India (hereinafter “RBI” for short) vide Circular dated 19.02.1994. Thus, the appellant derives its income, inter alia, from banking activities as well as from leasing transactions. 2.1. The appellant filed its income tax returns for the assessment years 1994-1995 to 1999-2000 and assessment orders were passed up to assessment