Penalty u/s.271(1)(c)
This query is : Resolved
04 October 2012
Dear sir,
The Land revenue Expense disallowed by
A. O. because of the Expnses was previous financila year and also penalty initiate by him, therefore i request you to reply me regarding Penalty u/s. 271(1)(c) with various court judgement. Should A.O. impose penaly on above disallowed expenses?
Thanks
Vinod
The Land revenue Expense disallowed by
A. O. because of the Expnses was previous financila year and also penalty initiate by him, therefore i request you to reply me regarding Penalty u/s. 271(1)(c) with various court judgement. Should A.O. impose penaly on above disallowed expenses?
Thanks
Vinod
04 October 2012
Supreme court decision in Reliance Petroproducts Pvt Ltd's case , 322 ITR 158 (SC), will help you.
Crux of the decision is ,claim of the assessee if not accepted/ acceptable to the revenue, that itself would not attract penalty u/s 271(1)(c).
Crux of the decision is ,claim of the assessee if not accepted/ acceptable to the revenue, that itself would not attract penalty u/s 271(1)(c).
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