Penalty on addition of 40A(b)

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..... The A.O. has made addtion u/s. 40A(b) on account excess interest payment to relative (18%-12%= 6%. Penalty u/s. 271(1)(c) can levy on the above addition - Reply By GOPALJI AGRAWAL - The Reply .....

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..... = I think you are talking abt 40(2)(b) provisions. Penalty can not be levied as it is neither inacccurate particulars nor concealment case. It has also been held in the case of Jhavar Prop .....

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..... erties (P) Limited. Versus Assistant Commissioner Of Income-Tax. The case details is available at the following link: http://www.taxmanagementindia.com/visitor/detail_case_laws.as .....

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..... p?ID=59637 - Penalty on addition of 40A(b) - Query Started By: - geetha menon Dated:- 7-5-2 .....

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..... 011 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementi .....

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..... ndia.com - TMI - TaxTMI - TMITax .....

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