section 271(1)(c)
This query is : Resolved
02 November 2008
If a company has loss during an A.Y. After assessment under section 143(3), there find an income escaping of Rs. 7500. After considering income the company is still incurring loss. Can penaly under section 271(1)(c) can be levied or not.
02 November 2008
YES CAN BE LEVIED.
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