48 results for “penalty u/s 271”+ Section 36(1)clear
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In the result, the appeal filed by the assessee is allowed
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
u/s 271(1)(c) is not justified. 6 Sukhdev Singh v. ITO 6. Having heard the ld. additional CIT DR, perusal of record and impugned order, we find that undisputedly, assessee’s income has been estimated considering the deposits made in the bank account under section 44 A.D. of the Income Tax Act. In our view, penalty under section 271