Penalty u/s. 271(1)(c) - unexplained cash credit u/s. 68 - Once, ...

No Penalty for Concealment u/s 271(1)(c) if High Court Admits Substantial Question on Quantum Proceedings.

October 13, 2021

Case Laws Income Tax AT

Penalty u/s. 271(1)(c) - unexplained cash credit u/s. 68 - Once, the substantial question of law on the quantum proceedings is admitted by the Hon'ble High Court, the issue in dispute became debatable. Hence, there cannot be any concealment penalty of the assessee for alleged furnishing of inaccurate particulars of income. - AT

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Penalty u/s. 271(1)(c) - unexplained cash credit u/s. 68 - Once, ...

No Penalty for Concealment u/s 271(1)(c) if High Court Admits Substantial Question on Quantum Proceedings.

October 13, 2021

Case Laws Income Tax AT

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