36 results for “penalty u/s 271”+ Section 20clear
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In the result, the appeal filed by the revenue is
Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA
Penalty Proceeding u/s 271(1)(c) is initiated separately for furnishing inaccurate particulars. However, the transport charges also attract the provisions of section 40(a)(ia) of the Income Tax Act, 1961. The assessee was liable to deduct tax at source on the paid or credited payment to the transporters exceeding Rs.20,000/- for single transaction and Rs.50