Penalty u/s 271(c)

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Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2010 A.O. complete the assessment u/s 143(2)& rejected the book of assessee. complete the assessment by taking N.P.5% of sale.now he starte penalty proceeding .did presumptive agreed assessment liable for the penalty u/s 271(C)?Plz suggest any case law if any?
Regard-
Nikunj

CA. R. B. SAH

CA. R. B. SAH (Expert)
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14 December 2010 THERE SHALL BE NO ANY PENALTY U/S 271(1)(C) ON INTANGIBLE ADDITION MADE BY A.O. AS PER "VEERA SHINGHAIA AND CO. (SC)".

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Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2010 Sir plz suggeest ITR or any ref no.
Thanxs..