section 271(1)(c)

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Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2011 Whether the disallowances of expenditure is consider as concealment if not support it with any case law???????

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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12 March 2011 Penalty can't be levied.

Citation : (Case/Appeal No: Civil Appeal No. 2463 of 2010) C.I.T. Vs. Reliance Petroproducts Pvt. Ltd. Supreme court decision dt 17/3/2010.

Held that merely because the assessee had claimed the expenditure, which claim was not accepted by the Revenue, that by itself would not attract the penalty under Section 271(1)(c)of the Income tax Act,1961.

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