Bench: Shri Aby.T Varkey & Shri Waseem Ahmed
Penalty proceedings u/s. 271(1)(c) of the Income-tax Act, 1961 read with explanations there under, are initiated separately, for furnishing inaccurate particulars of its income.” 33. Aggrieved assessee preferred an appeal to ld. CIT(A). The assessee before ld. CIT(A) submitted that the amended provisions of section 80IA of the Act provides that the profits