Penalty levied u/s 271(1)(c) - undervalued its closing stock - ...

Penalty Imposed u/s 271(1)(c) for Undervaluing Stock; No Deliberate Intent Found in Taxpayer's Reporting.

October 6, 2018

Case Laws Income Tax AT

Penalty levied u/s 271(1)(c) - undervalued its closing stock - in the subsequent year, the assessee has shown less amount of opening stock which will lead in the enhancement of the profit of the assessee - there cannot be a deliberate act on the part of the assessee in declaring less amount of closing stock.

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Penalty levied u/s 271(1)(c) - undervalued its closing stock - ...

Penalty Imposed u/s 271(1)(c) for Undervaluing Stock; No Deliberate Intent Found in Taxpayer's Reporting.

October 6, 2018

Case Laws Income Tax AT

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