TMI BlogPenalty u/s 271(1)(c) of the Act is liable to be imposed only where the assessee has concealed its...Penalty u/s 271(1)(c) of the Act is liable to be imposed only where the assessee has concealed its particulars of income or furnished inaccurate particulars. Action of making addition on ad–hoc basis does not result into imposition of penalty u/s 271(1)(c) of the Act and hence cannot be termed as either concealment or furnishing of inaccurate particulars of income. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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