Income derived from loan given to huf by karta: clubbing?
This query is : Resolved
15 September 2012
Hello,
What is the time limit for leving penalty of concealment u/s 271(1)(c)? Can concelment penalty be levied now for income concealed in the year 1996?
What is the time limit for leving penalty of concealment u/s 271(1)(c)? Can concelment penalty be levied now for income concealed in the year 1996?
Amol S Joglekar
(Expert)
15 September 2012
Please refer to the recent judgement of Delhi high court. It is really HARD to believe that 1996 concealment penalty is levied now.
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