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By two views No Penalty of Income Tax

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  • By two views No Penalty of Income Tax

    No Penalty if two views possible under Income Tax Act. Assessee (Salman Khan) in the present case who derives income from profession of acting and advertisement assignments [Source-Salman Khan vs. ACIT (ITAT Mumbai)].

    Sale of goods at a price below manufacturing cost and profit now onwards will not be considered as exception to section 4 of Central Excise Act, 1944.
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