Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (7) TMI 566 - AT - Income TaxPenalty under section 271(1)(c) - disallowances under section 40(a)(ia) and Addition of Rent receipts - Held that:- Both on facts and in law, the assessee, by its explanation and conduct, has not been able to discharge the burden that lay upon it under Explanation 1 to section 271(1)(c) of the Act. In this factual and legal view of the matter, we are of the considered opinion that the penalty levied under section 271(1)(c) of the Act in the impugned order by the learned CIT(A) is to be upheld - Decided against assessee.
|