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Concealment of Income u/s 271(1)(c)

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 February 2010 A transporter has claimed depreciation in respect of lorries @ 40% while it is admissible @ 30% for FY 2007-08. Can this amount to be concealment of income.

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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
03 February 2010 filing inacurate particulars of income also covered under section 271 (1) (c) . Plead mens reaand take benefit of earlier rate of tax when the dep. rate is 40%.
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