Penalty proceedings and assessment proceedings are two distinct and independent proceedings
Last updated: 14 December 2013
Court :
IN THE INCOME TAX APPELLATE TRIBUNAL
Brief :
In brief the facts are that in this case return of income was filed by the assessee declaring a loss of Rs. 19,906/-. The assessment was completed by the A.O. u/s 143(3) of the I.T.Act at an income of Rs. 12,42,412/- by making following disallowance/additions.
Citation :
M/s Narain Cold Storage & Allied Industries P.Ltd. 26 C, Lawrence road New Delhi 110 035 (Appellant) Vs. ITO, Ward 13(1) New Delhi (Respondent)
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Published in Income Tax
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