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Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Penalty u/s 271(1)(c) of the Income Tax Act – Claim of ...


High Court: No Penalty u/s 271(1)(c) for Good Faith Expenditure Claims in Profit and Loss Account.

October 31, 2013

Case Laws     Income Tax     HC

Penalty u/s 271(1)(c) of the Income Tax Act – Claim of expenditure made in P & L A/c – there was no lacking in bona fides in the claim of the assessee originally made - no penalty - HC

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