Bombay High Court Dismisses Revenue's Appeal in Income Tax Penalty Case — Penalty Deletion Upheld for Bonafide Claims. Claims for deduction under Section 35D and diminution in value of shares were bonafide and not concealment, following CIT vs. Reliance Petroproducts Pvt. Ltd.
14 Aug 2012The case involves an appeal by the Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appel...




