Madras High Court Allows Assessee's Appeal in Income Tax Penalty Case — Typographical Error in Return Does Not Attract Penalty Under Section 271(1)(c) of Income Tax Act, 1961. Bona Fide Claim for Exemption Based on Professional Advice Does Not Amount to Concealment or Furnishing of Inaccurate Particulars....
The appellant, Ms. Saritha Jain, an income tax assessee, sold her shares in M/s. Vision Health Services (P) Ltd., an Indian company, to M/s. Perot Systems Corporation, a US company, for a consideratio...
