Case Law Details
Case Name : Commissioner of Income Tax-I, Mumbai Vs M/s. Bennett Coleman & Co. Ltd. (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
Sponsored
The assessing officer considered the said premium received on redemption of debentures to be taxable under the head income from other sources while the respondent-assessee considered the same to be taxable under the head capital gains. In view of the fact that there is only a change of head of income and in the absence of any facts that the claim of the assessee was not bonafide, the Tribunal deleted the penalty imposed under Section 271(1)(c) of the Act. The decision of the Tribunal is based on finding of fact that there was an inadvertent mistake on the part o
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.