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ITAT upheld concealment penalty on foreign co. as its liaison office was engaged in commercial activities
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Corporate Tax
ITAT upheld concealment penalty on foreign co. as its liaison office was engaged in commercial activities
Posted on
on
May 24, 2014
Tenet Tax Daily May 20 2014
By
tenettax-team
Corporate Tax
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ITAT deleted concealment penalty as retro-amendment merely transformed a valid expense into disallowable one
Rent from letting out of flat with amenities was income from house property in absence of any business activity