9 results for “penalty u/s 271”+ Section 48clear
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Appeal is allowed
Bench: The Hon’Ble Tribunal Against The Order Passed By The Cit(A), Dated 08.12.2023, Under The Income Tax Act, 1961. 1. Period Of Delay: There Is A Delay Of 494 Days In Filing The Said Appeal
48,200/- (being 2% of Rs. 24,10,000/-) was added u/s 69C as unexplained expenditure on account of charges paid to earn accommodation entry and an amount of Rs. 1,16,400/- was also added u/s 69 of the Act. In the assessment order, the AO initiated penalty proceedings u/s 271(1)(c) of the Act for concealment