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In the result, the appeal of the assessee is dismissed
Bench: Shri M. Balaganesh & Shri Anubhav Sharmajet Lite (India) Ltd, Vs. Dcit, 13, Community Central Circle-6, Centre, Yusuf Sarai, (Now Cc-1), New Delhi New Delhi (Appellant) (Respondent) Pan:Aadcs4480L
172 Taxman 386 (SC) that provision of Explanation 4 appended to section 271 of the IT Act, 1961 as amended by the Finance Act, 2002 with effect from 1-4-2003 is applicable with the retrospective effect. Therefore, the AO has correctly rejected the second plea of the appellate. Jet Lite (India) Ltd 6.5 In view of the above discussion