Penalty under section 271(1)(c) - assessee did not maintain ...

Income Tax

April 1, 2015

Penalty under section 271(1)(c) - assessee did not maintain regular books of account, and therefore, provisions of section 145(3) were applied and the rates were enhanced by the AO for making estimated addition - It is well settled law that for an estimated addition, no penalty is leviable - AT

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Penalty under section 271(1)(c) - assessee did not maintain ...

Income Tax

April 1, 2015

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MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

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