Penalty u/s 271(1)(c) of the income tax act 1961

Biswas Sharma (Article Assistance) (84 Points)

09 April 2016  
Penalty u/s 271(1)(c) of the Income Tax Act 1961: Whether leviable u/s 56(2)(viib) read with Rule 11UA on account of excess Share premium received. Share premium duly disclosed in audited balance sheet.