Penalty u/s 271(1)(c) of the Income Tax Act - concealment of income - AO rejected to books of accounts...

Penalty u/s 271(1)(c) of the Income Tax Act - concealment of income - AO rejected to books of accounts since 90% of expenses paid in cash and not verifiable - AO applied the net profit rate @ 3.1% instead of 2.1% - levy of penalty on estimate of income be cancelled. - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X