Penalty u/s 271(1)(c) - addition of peak cash credit - sale and ...

Income Tax

June 25, 2019

Penalty u/s 271(1)(c) - addition of peak cash credit - sale and purchase of old vehicles - addition confirmed by the CIT(A) on the basis of estimation/preponderance of possibilities of introducing some unaccounted income into the bank account - there was no reliable or un-rebutted evidences on the file to prove that the assessee had actually furnished inaccurate particulars of income or concealed particulars of his income - no penalty

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Penalty u/s 271(1)(c) - addition of peak cash credit - sale and ...

Income Tax

June 25, 2019

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