{"id":984,"date":"2018-05-24T08:44:32","date_gmt":"2018-05-24T08:44:32","guid":{"rendered":"http:\/\/itatonline.org\/digest\/sundaram-finance-ltd-v-acit-2018-403-itr-407-mad-hc\/"},"modified":"2019-07-12T08:04:05","modified_gmt":"2019-07-12T08:04:05","slug":"sundaram-finance-ltd-v-acit-2018-403-itr-407-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/sundaram-finance-ltd-v-acit-2018-403-itr-407-mad-hc\/","title":{"rendered":"Sundaram Finance Ltd v.  ACIT  (2018) 403 ITR 407 \/ 170 DTR 8 \/304 CTR 846 \/ 93 taxman.com 250 (Mad)  (HC)Editorial: SLP of assessee is dismissed , Sundaram Finance Ltd v.  Dy.CIT ( 2018) 259 Taxman 220 ( SC)"},"content":{"rendered":"<p>Dismissing the appeal of the assessee \u00a0the Court held that; the claiming the depreciation on machinery which did not exist was held to be filing inaccurate particulars of income . When the claim\u00a0 of depreciation was confronted with the findings it had voluntarily reversed the\u00a0 claim of depreciation . As regards notice did not show the nature of default , the Court\u00a0held that when the assessee had understood purport and import of notice , levy of penalty is held to be valid <strong>\u00a0<\/strong>( AY.1994-95, 1995-96 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.271(1)( c):Penalty \u2014 Concealment of income \u2014 Depreciation -Notice did not show nature of default \u2013 Assessee had understood purport and import of notice-  Levy of penalty is held to be  valid .[ S. 32 , 274 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-984","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fS","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=984"}],"version-history":[{"count":5,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/984\/revisions"}],"predecessor-version":[{"id":6063,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/984\/revisions\/6063"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}