I.TA. NO.977/LB OF 1989-90, DECIDED ON 28TH JUNE, 1990. versus I.TA. NO.977/LB OF 1989-90, DECIDED ON 28TH JUNE, 1990.
The GP rate was applicable to the total receipts declared by the assessee in section 32 income, while the application of the NPRT was exempted by the Income Tax Appellate Tribunal Section 66 of the strict compliance of the law. The resulting loss of income would be such a loss. Do not yet offer to misunderstand the review as it is a prejudice to the interest of the revenue and does not guarantee action under section 66A which Due to the strict adherence to the provisions of the law, the assessment may result in a loss of revenue. It will not be considered inappropriate or prejudicial to the benefit of the tax so that the IAC may be empowered to exercise the powers granted under section 66A.
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