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1 - 5 of 5 (0.25 seconds)Section 271 in The Income Tax Act, 1961 [Entire Act]
Section 44DA in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Bharat Sanchar Nigam Ltd. (G.M.T.) vs Amit Kumar Jain on 24 October, 2017
"There is a force in argument of the appellant that it has neither concealed nor
furnished, inaccurate particulars of its income. Entire contract revenue was declared
in the return of income though offered for tax on net basis. If difference in position
taken by the appellant and the AO is regarding characterization of income only, it
cannot be said that inaccurate particulars of income have been furnished, by the
appellant, as held, by Hon'ble Delhi High Court, in case of C1T vs Amit Jain 351 1TK 74.
Further, Hon'ble. Supreme Court in case of Reliance Petroproducts P. Ltd. [(.2010) 230
CTR 320] has held that if a claim made by the assessee is not found sustainable by the
AO, it does not automatically lead, to concealment of income. "
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