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ITAT upheld concealment penalty on foreign co. as its liaison office was engaged in commercial activities

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  • ITAT upheld concealment penalty on foreign co. as its liaison office was engaged in commercial activities
Posted onon 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

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