COMMISSIONER OF INCOME TAX AND INCOME TAX OFFICER Versus M/s OSCAR UDYOG LTD - Income Tax - KARNATAKA HIGH COURT - HC - Validity of penalty proceedings - Held that - The Tribunal held that the assessee was entitled to claim deduction - Merely because the assessee withdrew the deduction, conceded to the demand of the department and paid tax and interest, it cannot be concluded that he was not entitled to deduction - As there is no malafide intention, the assessee cannot be imposed penalty - The c................................... Income Tax - Case Laws
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