TMI Blognotice u/s 271(1)(c)X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear sirs. My party has filled the return of income , comes under the scrutiny , in the matter A.O. found two points where he objected made a addition to the matter. Points are as under : 1. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .O. has demanded that my client has not ded. the TDS on source of the Loans taken from the Fin. Compnaies other than bank , here they have not made any TDS for the same. 2. My client has not given t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he effect of the cut off procedure for the expenditures to make proportion to the Prepaid Expenses in relation to the Insurance expenses and it involves Rs. 3 Lacs so here the A.O. has made the 60 % a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dhoc addition to the income. Pls help me to resolve the case with some materials availabe to solve the matter. Reagrds Mayank - Reply By Rama Krishana - The Reply = Since your question is rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated to penalty u/s 271(1)(c), in my view, you can claim relief on the ground of banafide belief. If there is no intention to evade tax or concealment of income, no penalty under section 271(1)(c) be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imposed. The addition has been made on technical grounds and the assessee has suffered for the same under different set of provisions, therefore, I hope that penalty would be waived off. - notice u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 271(1)(c) - Query Started By: - Mayank Raval Dated:- 26-6-2011 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Managemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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