Penalty u/s 271(1)(c) - Addition u/s 68 - Head changed from ...

Penalty u/s 271(1)(c) Cannot Be Imposed Without Proving Tax Evasion Intent in Section 68 Additions.

January 8, 2021

Case Laws Income Tax AT

Penalty u/s 271(1)(c) - Addition u/s 68 - Head changed from income under “PGBP” (as shown by the assessee) to addition U/s 68 - That there was some tax sought to be evaded by assessee, is a necessary condition for imposition of penalty U/s 271(1)(c) - The allegation of the Ld. CIT(A) that the assessee had the bogus income or bogus credit, is pointless, because the corresponding amount was already included in the returned income of the assessee. - AT

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Penalty u/s 271(1)(c) - Addition u/s 68 - Head changed from ...

Penalty u/s 271(1)(c) Cannot Be Imposed Without Proving Tax Evasion Intent in Section 68 Additions.

January 8, 2021

Case Laws Income Tax AT

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