COMMISSIONER OF INCOME-TAX versus DHOOLIE TEA CO. LTD.
The idea of hiding an income penalty is that the income is not taxable. Fines to be imposed Fines have to prove that a tea company is deliberately selling all of its assets to Assisi and Under the S, the income from the sale of tea properties cannot be recovered and even more so in the litigation and the only installment which was given to the assessee. There is no realization that there is no income other than interest income in the respective years. Accounting method changed from merchant to cash system Income in the hands of Assisi after switchover of accounting method is not valid Indian Income Tax Act, 1961, Section 271 (1) (c)
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