Penalty u/s.271(1)(c) - Nature of interest income - capital ...

Madras High Court Rules No Penalty u/s 271(1)(c) for Debatable Interest Income Classification Issue.

December 1, 2022

Case Laws Income Tax AT

Penalty u/s.271(1)(c) - Nature of interest income - capital receipt or revenue receipt - This being a highly debatable issue and once there is a debate as assessee’s present case, Hon’ble Madras High Court has admitted the substantial question of law against the order of Tribunal in quantum, we are of the view that assessee is not liable for penalty u/s.271(1)(c) - AT

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Penalty u/s.271(1)(c) - Nature of interest income - capital ...

Madras High Court Rules No Penalty u/s 271(1)(c) for Debatable Interest Income Classification Issue.

December 1, 2022

Case Laws Income Tax AT

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