76 results for “penalty u/s 271”+ Section 50clear
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In the result, both the appeals are allowed
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
section 271(1) (c) could not imposed and confirming of penalty U/s 271(1)(c) on disallowance of shop expenses and cash discount is unjustified and liable to be deleted. 7. The Ld. Addl. CIT (DR) stands by the impugned orders. However, he has admitted the fact that the disallowance of shop expenses was on estimate basis@ 50