Please Help: penalty u/s 271(1)(c)
Posted Date : 05-Aug-2011 , 05:16:19 pm | Posted By: Shashi Kumar Dhoka
Category :
Income Tax | Answers :
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whether commsssion paid, disallowed u/s 40(a)(ia) for non deduction of tax is liable for penalty u/s 271(1)(c) |
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| Posted By : SHUBHAM RASTOGI |
05-Aug-2011, 10:54:11 |
| no it is not liable to penalty us 271(1)(c) as no concealment of particulars of income neither neither any innacurate particulars of income have been furnished.
following case laws are relevant
RELIANCE PETROPRODUCTS 36DTR(SC)
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| Posted By : CA VIPIN GARG |
05-Aug-2011, 05:38:44 |
| Yes it is subject for penalty u/s 271 (1)(c) because it falls under inaccurate particulars of income.
The A.O. can go for this very well....... |
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