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). Bonafide belief and full disclosure of transaction negate mens rea for concealment....
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...




