Wrong deduction claimed which resulted in reduction of Tax liability can't amount to concealment of income
Court :
Bombay High Court
Brief :
In Pr. Commissioner of Income Tax v. Sonu Realtors Private Limited [INCOME TAX APPEAL NO.956 OF 2017 dated October 11, 2021], Pr. Commissioner of Income Tax ("the Appellant") filed the appeal being aggrieved against Order dated July 20, 2016 passed by Income Tax Appellate Tribunal ("ITAT") in which the order of Appellant was set aside wherein it was alleged by the Appellant that Sonu Realtors Private Limited ("the Respondent") had made an attempt to reduce its tax liability by claiming wrong deduction and the Respondent committed a default of not computing the book profit under Section 115JB of the Income Tax Act, 1961("the IT Act").
Citation :
INCOME TAX APPEAL NO.956 OF 2017 dated October 11, 2021
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Bimal Jain
Published in Income Tax
Views : 154
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