In a scrutiny proceedings, ITO treated trading in shares as business income which was returned by us as capital gains..
now, ITO wants to initiate penalty proceeding for not doing tax audit...
Can ITO impose penalty for want of Tax Audit...?
Thanks in advance...
share the facts and grounds of disallowance of capital gains.
He can, if the total volume of transactions exceed Rs.60 lakhs.
Karia Overseas
Ahmedabad
CA
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Shaswat initial support private limited
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T R SOOD & CO
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SMJ global advisors pvt ltd
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CAclubindia
