Penalty u/s 271(l)(c) - assessed income is a loss - explanation ...

Supreme Court affirms penalties u/s 271(1)(c) apply even if assessed income results in a loss.

November 15, 2012

Case Laws Income Tax SC

Penalty u/s 271(l)(c) - assessed income is a loss - explanation 4 to Section 271(1)(c) is clarificatory and not substantive & penalty can be levied even if returned income is a loss - SC

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Penalty u/s 271(l)(c) - assessed income is a loss - explanation ...

Supreme Court affirms penalties u/s 271(1)(c) apply even if assessed income results in a loss.

November 15, 2012

Case Laws Income Tax SC

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