Levy of penalties u/s 271(1)(c) of I.T. Act, 1961.

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..... tute: Income - Tax Act, 1961 Reference is invited to Board's Instructions No. 241 (F. No. 272/169/70-ITJ) dated 30-11-1970/No. 259 (F. No. 272/169/70-ITJ) dated 5-1-1971 and to say that a larger Benc .....

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..... ases of imposition of penalties u/s 271(1)(c) of the I.T. Act, 1961, no further satisfaction of the Inspecting Asst. Commissioner is necessary in the course of the assessment proceedings after the ini .....

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