Penalty levied u/s 271(1)(c) - it is a case of misunderstanding ...

Penalty u/s 271(1)(c) of Income Tax Act lifted due to differing interpretations of Section 10B exemption, not non-compliance.

April 28, 2017

Case Laws Income Tax AT

Penalty levied u/s 271(1)(c) - it is a case of misunderstanding the statutory provision by the assessee and the officers. The assessee understood the provision of exemption u/s 10B in a particular manner and the Assessing Officer has understood the same in another manner - No penalty - AT

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Penalty levied u/s 271(1)(c) - it is a case of misunderstanding ...

Penalty u/s 271(1)(c) of Income Tax Act lifted due to differing interpretations of Section 10B exemption, not non-compliance.

April 28, 2017

Case Laws Income Tax AT

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Penalty for concealment of income Under Section 271(1) (c) - Article

MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

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