Case Law Details
Case Name : Vinay Khetan Vs DCIT (ITAT Delhi)
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Delhi
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Vinay Khetan Vs DCIT (ITAT Delhi)
Introduction: In a significant development that offers clarity on the implications of property sale considerations on income tax penalties, the Income Tax Appellate Tribunal (ITAT) in Delhi has delivered a ruling in the case of Vinay Khetan Vs DCIT. The ITAT’s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, 1961, reinforces the legal principle that mere substitution of sale consideration as per Section 50C does not automatically translate to furnishing inaccur 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.