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Forest dept allowed to kill wild boars, TN govt tells HC
by Sekar Reporter · Published July 26, 2020
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Justice S.M.Subramaniam held that there is a failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. It is categorically stated that the initiation of assessment years is to be taken as AY 1996-97 and the assessee is eligible only for 30% payment of the deduction claim and the remaining 70% is to be taxed. Thus, the deduction under Section 80-IA should be restricted to Rs.26,18,90,989/- and an excess claim of Rs.61,10,78,973/- is to be disallowed. Thus, there is a definite ‘reason to believe that the deduction of Rs.61,10,78,973/- is an excess deduction to the tune of income chargeable to tax as an escaped assessment.
by Sekar Reporter · Published May 23, 2021