85 results for “penalty u/s 271”+ Section 9(1)clear
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In the result, appeal filed by the Revenue is allowed for statistical purposes
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
penalty u/s 271(1)(c) of I.T. Act 1961 is unjustified and unsustainable. 7.12 The Hon'ble Apex Court in case of M/s Reliance Petro Products Pvt. Ltd. reported at 322 ITR 158 (SC) while considering the provisions of section 271(1)(c) of I.T. Act 1961 has held as under: "9