271(1) (c)

This discussion explores whether a penalty under Section 271(1)(c) of the Income Tax Act, 1961, can be levied in a reassessment case when the returned income was accepted and no additions were made. Penalties under this section are typically for concealing income or providing inaccurate particulars. The content suggests that a penalty may still be applicable in such scenarios, and an appeal process is available, though it requires paying 20% of the tax/penalty amount.