Tag Archives: tax audit report

No Penalty of S. 271(1)(c) if wrong Loss claimed as per Tax Audit report : ITAT

By | March 26, 2019

we find that the penalty was initiated on account of loss claimed by the appellant on sale of assets, even though, that particular block of assets had not been exhausted. We do not find any justification to discard the findings reached by the ld. CIT(A) that the assessee had duly disclosed the loss on sale… Read More »