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Income Tax - Highlights / Catch Notes

Home Highlights February 2017 Year 2017 This

Penalty u/ 271(1)(c) - unexplained investment - assessee should ...


Court Examines Section 271(1)(c) Penalty: Unexplained Investment Not Automatically Guilty of Concealment or Inaccuracy.

February 27, 2017

Case Laws     Income Tax     AT

Penalty u/ 271(1)(c) - unexplained investment - assessee should have been careful cannot be doubted, but the absence of due care, in a case such as the present, does not mean that the assessee is guilty of either furnishing inaccurate particulars or attempting to conceal its income. - AT

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