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Income Tax - Highlights / Catch Notes

Home Highlights August 2014 Year 2014 This

Penalty proceedings against firm and partners u/s 271(1)(c) – ...


High Court Rules Penalty on Partners Unjustified for Firm's Fixed Deposit Investments u/s 271(1)(c.

August 12, 2014

Case Laws     Income Tax     HC

Penalty proceedings against firm and partners u/s 271(1)(c) – the amounts invested in the Fixed Deposit Receipts belongs to the firm and the income also belong to the firm - penalty on partner is not justified - HC

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