TMI BlogValidity of the penalty u/s 271(1)(c) or 158BFA - AO has levied the penalty under section 271(1)(C) of...Validity of the penalty u/s 271(1)(c) or 158BFA - AO has levied the penalty under section 271(1)(C) of the Act by observing that the assessee has concealed/furnished inaccurate particular of income whereas there is no concept of concealment/furnishing inaccurate particular of income under the provisions of section 158BFA(2) - the penalty levied under section 271(1)(c) of the Act is not sustainable - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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