Penalty u/s 271(1)(c) - Since the entire addition u/s 68 has not ...

Income Tax

July 4, 2016

Penalty u/s 271(1)(c) - Since the entire addition u/s 68 has not been conclusively proved and it is based on assumption and not by verification, penalty u/s 271(1)(c) deleted

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Penalty u/s 271(1)(c) - Since the entire addition u/s 68 has not ...

Income Tax

July 4, 2016

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Penalty u/s 271(1)(c) on addition made u/s 68 - the assessee has given sufficient explanation though not found satisfactory by AO - No merit in levying penalty.

Penalty u/s 271(1)(c)- additions u/s 68 - the contention of the assessee cannot be straightway rejected that such error may occur due to software problem - AT

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Penalty u/s 271(1)(c) - when the Assessing Officer is not able to prove that the assessee was guilty of fraud or gross or willful negligence, penalty cannot be sustained - AT

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