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Del. HC: Revenue Needs to Spell Out Clear Ground for Initiating Penalty Proceedings - (26 Nov 2024)

DIRECT TAXATION

Del. HC has stated that ‘Concealment of income’ & ‘furnishing of inaccurate particulars’ of income u/s 271(1) (c) of IT Act carry different meanings. If penalty proceedings are to be initiated by Revenue then specific ground which forms the foundation thereof needs to be spelt out in clear terms.

Tags : DELHI HIGH COURT   PENALTY PROCEEDINGS   CONCEALMENT OF INCOME  

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