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Penalty u/s 271(1)(c) - assessee did not establish the nexus between the borrowed funds and the investment so made with a clear intention to conceal the income by furnishing inaccurate particulars of such income, therefore, in our view, penalty was rightly imposed - Tri

Income Tax - Penalty u/s 271(1)(c) - assessee did not establish the nexus between the borrowed funds and the investment so made with a clear intention to conceal the income by furnishing inaccurate particulars of such income, therefore, in our view, penalty was rightly imposed - Tri - TMI Updates - Highlights .....

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