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Case Law Details

Case Name : Gujarat Smelting & Refining Co. Ltd. Vs ITO (ITAT Ahmedabad)
Related Assessment Year : 2014-15
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Gujarat Smelting & Refining Co. Ltd. Vs ITO (ITAT Ahmedabad)

The assessee cannot be absolved from the penalty merely on the reasoning that it has agreed for the addition/disallowance during the quantum proceedings. The Hon’ble Supreme Court in the case of MAK Data Private Ltd versus CIT reported 38 com 448 has held as under:

“9. We are of the view that the surrender of income in this case is not voluntary in the sense that the offer of surrender was made in

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