No penalty for Suo-Motto Disclosure of Income before detection by revenue

ACIT Vs Chandrakant G. Patel (ITAT Ahmedabad)

Penalty u/s 271(1)(c) of the Act in the present case was levied on the assessee for failure to return income from sale of agricultural land, held as stock in trade, to tax. The charge of the Revenue being that the assessee had furnished inaccurate particulars of

Please become a Premium member. If you are already a Premium member, login here to access the full content.