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Income Tax - Highlights / Catch Notes

Home Highlights October 2018 Year 2018 This

Penalty u/s 271(1)(c) - Mere claiming of deductions under the ...

Income Tax

October 29, 2018

Penalty u/s 271(1)(c) - Mere claiming of deductions under the relevant provisions of law and as per RBI Guidelines does not and cannot amount to furnishing of inaccurate particulars of income.

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  3. Imposition of penalty u/s 271(1)(c) – mere admission of appeal by the High Court is sufficient to debar the penalty levied u/s.271(1)(c) of the Act - AT

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  9. Penalty levied u/s 271(1)(c) - the mere disallowance under section 43B would not amount to concealment of income or furnishing inaccurate particulars of income - no penalty.

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