Penalty u/s 271(1)(c) - Interest as obtained through interest ...
Income Tax
June 3, 2023
Penalty u/s 271(1)(c) - Interest as obtained through interest bearing fund and used for non-business purposes - Assessee has voluntarily offered such interest expenditure during the assessment. Thus, the assessee is not to be penalized on such addition as he himself has offered before assessment proceedings. - no penalty - AT
View Source
