Levy of penalty u/s 271(1)(c) - The Tribunal had observed that...
Tribunal Rules No Penalty u/s 271(1)(c) for Punjab Government Undertaking's Omission, No Benefit Gained.
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Income TaxMay 17, 2016Case LawsHC
Levy of penalty u/s 271(1)(c) - The Tribunal had observed that by not adding back the amount, no one had been benefitted as the assessee is an undertaking of Government of Punjab - No penalty - HC