12 results for “penalty u/s 271”+ Section 31clear
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31) of the Act. 7. We thus note that, the claim of the appellant made in the return of income as ‘co-operative society’ in view of the Revenue constituted as ‘furnishing of inaccurate particulars of income’ which in turn sanctioned initiation & consequential imposition of impugned penalty equal to 100% of tax on the amount of claim for deduction denied