Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1993 (2) TMI 122 - ITAT AHMEDABAD-B
Extract:
.......re particularly so because the provision relates to imposition of penalty. We are, therefore, of the considered opinion that no penalty under s. 271(1)(c) can be levied in a case where the total income is assessed at a figure of loss. 10. In the result the penalty levied by the ITO and confirmed by the CIT(A) is cancelled and the appeal is allowed.