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Case Law Details

Case Name : V.S.J. Marketing Pvt. Vs DCIT (ITAT Chennai)
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V.S.J. Marketing Pvt. Vs DCIT (ITAT Chennai)

The Income Tax Appellate Tribunal (ITAT) in Chennai recently ruled on the case of V.S.J. Marketing Pvt. Ltd. Vs Deputy Commissioner of Income Tax (DCIT), concluding that failure to furnish a Return of Income is tantamount to concealing particulars of income. The Tribunal upheld a penalty under section 271(1)(c) for Rs. 140.86 Lacs for the Assessment Year (AY) 2010-11. This article provides a comprehensive analysis of the ruling and its implications.

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