Sec 40 A(3)
This query is : Resolved
07 October 2010
Is there any penalty u/s 271(1)(c)for dis-allowance u/s 40 A (3).
07 October 2010
While computing taxable income by the assessee, if provisions of section 40A(3) are not looked into, returned income will be inaccurate. Furnishing of inaccurate particulars of income attracts 271(1)(c) penalty since willful concealment is not an essential ingredient to initiate penalty proceedings.
07 October 2010
How can this penalty initiation be countered, Please advice.
How can we say that it is a willful concealment, it can also be due to ignorance of the assessee.
Please advice.
How can we say that it is a willful concealment, it can also be due to ignorance of the assessee.
Please advice.
07 October 2010
Please provide me the case Laws related to rule 6dd(h) of the Income Tax.
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