Penalty u/s 271(1)(c) - denial of claim of embezzlement loss - ...

Income Tax

October 11, 2022

Penalty u/s 271(1)(c) - denial of claim of embezzlement loss - The fact that the cheque does not figure in the bank account of other party does not by itself prove the explanation of the assessee as wrong, as long as cheque stands reflected as issued in the bank statement of the assessee, which was not proved to be false by the Revenue. - No penalty - AT

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Penalty u/s 271(1)(c) - denial of claim of embezzlement loss - ...

Income Tax

October 11, 2022

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