penalty u/s 271(1)(c), Income Tax

[PRAVIN SINGH]

if particular expenses rightly disallowed by the A.O. during the course of assessment  U/S 40a(ia) , would attract penalty provision U/s 271(1)(c)

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[DEV KUMAR KOTHARI]

IT WILL DEPEND ON ALL RELEVANT FACTS AND CIRCUMSTANCES. THE YEAR, THE NATURE OF ASSESSEE, THE NATURE OF MISTAKE, THE PERSON WHO COMMITTED MISTAKE, THE INSTANCES OF APPLICABILITY OF PROVISIONS, REPEATED MISTAKES , MISTAKES EVEN AFTER WARNING ETC.

IN INITIAL YEARS LENIENT VIEW IS BEING TAKEN AS MANY SMALL TAXPAYERS HAVE BEEN TAKEN BY SURPRISE EVEN WHEN THEY WERE HELPED BY GENERAL TAX PRACTIONERS BECASUE THERE WAS MASS UNAWARENESS EVEN AMONGST MANY GENERAL TAX PRACTIONERS..