TMI BlogVoluntary Admission of Excess Interest Claim u/s 271(1)(c) Leads to Penalty Cancellation for Taxpayer.Penalty u/s 271(1)(c) - excess claim of interest expenditure on loan for property - voluntarily admission of the mistake suo motto prior to being confronted by AO is sufficient to delete penalty even if failure to file revise return ..... X X X X Extracts X X X X X X X X Extracts X X X X
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