Court :
HC
Brief :
Held by the Hon`ble Court that, the books of accounts revealed that the expenses were incurred by the assessee but not able to produce the proper vouchers for the expenses incurred and this is not amount to concealment of income. Therefore Penalty under section 271(1)(c) is not permissible on the basis of addition of income by disallowing expenses.
Citation :
C.I.T. Vs. Cafco Syndicate Shipping Co.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
SSGS and Associates
Chennai
CA Inter
View Details
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
View Details
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
View Details
CMNITY HIRE
New Delhi
Others
View Details
CAclubindia
