Levy of penalty u/s 271 - disallowance u/s 14A - merely interest ...

Income Tax

January 11, 2017

Levy of penalty u/s 271 - disallowance u/s 14A - merely interest has been disallowed does not mean that the assessee has considered the income are filed the inaccurate particulars of income - AT

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Levy of penalty u/s 271 - disallowance u/s 14A - merely interest ...

Income Tax

January 11, 2017

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Disallowance u/s 14A - when there was interest free funds available with the assessee, there does not arise a question of disallowing expenditure under Section 14A of the Act - HC

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Penalty levied u/s 271(1)(c) - disallowance of the deduction claimed by the assessee u/s 35 - AO has not brought out his case as to why penalty u/s.271(1)(c) of the Act...

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