Penalty under sec 271(1)( c ) can be delete subject to the satisfaction of the CIT that the basis of levy does not survive
Last updated: 26 April 2012
Court :
Income Tax Appeallate Tribunal
Brief :
We can observe that the penalty under sec 271(1) (c) can be imposed only on the basis which can survive and not by manipulating the basis on the falls fact.
Citation :
Asstt. Commissioner of Income Tax, Central Circle, Meerut (Appellant)vs. M/s Superior Exim (P) Ltd.,25, Bazar Lane, Bengali Market,New Delhi(PAN: AAOCS4361D)(Respondent)
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CS Bijoy
Published in Income Tax
Views : 1781
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