Where the assessee discloses all the facts truly, no penalty can be levied for concealment of income – Bombay HC

The Metal Rolling Works Ltd. V/s. CIT (Bombay High Court)- The development agreement did contain a clause to that effect and, therefore, since the last instalment was not received in AY 2002-03, the assessee was justified in not offering the capital...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]