Explained| Supreme Court’s decision on Liability for payment of Stamp Duty in Immovable Property Sale Deeds
The Supreme Court ruled that the value of the plant and machinery must be considered and ascertained for payment of stamp duty on sale deeds.
machinery
Penalty under Section 271(1)(c) of Income Tax Act is not automatic, intentional wrongdoing by the assessee has to be established
Delhi High Court: A Division Bench comprising of Ravindra Bhat and A.K. Chawla, JJ. dismissed Revenue’s appeal holding that Income Tax Appellate