PENALTY FOR CONCEALMENT OF INCOME – EFFECT OF CLAIM
PENALTY FOR CONCEALMENT OF INCOME – EFFECT OF DISALLOWANCE OF CLAIM No penalty on disallowance of capital gains if disclosure was made to identify investment and stock-in-trade Section 271(1)(c), read with section 45, of the Income-tax Act, 1961 – Penalty for concealment of income – effect of Disallowance of claim Where assesse had disclosed all …