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271(1) (c)
Whether penalty u/s 271(1) (c) is Levi able in reassessment case u/s 271(1) (c), when returned income is accepted and no addition made.
Replies (3)
A penalty is levied under Section 271(1)(c) of the Income Tax Act, 1961 if the assessee has concealed the particulars of his income or furnishes inaccurate particulars of income. The concerned officer must be satisfied that the assessee has either concealed his income or furnished inaccurate particulars of income
You can go for an appeal.
file For 35.
But 20% of the tax/penalty amount.
file For 35.
But 20% of the tax/penalty amount.
Yes penalty is applicable
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