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Income Tax - Highlights / Catch Notes

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Penalty u/s 271(1)(c) - non disclosure of income earned by way ...

Income Tax

March 4, 2017

Penalty u/s 271(1)(c) - non disclosure of income earned by way of Director Sitting Fee - merely because the assessee is not maintaining books of accounts, he cannot get rid of offering the income earned by him during the year - Levy of penalty confirmed - AT

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  10. Penalty u/s 271-D and 271-E - accepting loan in cash from the director of the company - The tribunal held that, the assessee`s case under consideration the transactions...

 

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