76 results for “penalty u/s 271”+ Section 27clear
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In the result, the above appeals of the assessee are partly allowed
Bench: Shri Mahavir Prasad & Shri Waseem Ahmed
penalty proceedings can be initiated under section 271(1)(c) of the Act. In the present case, the assessee has filed the income tax return under the provisions of section 153C of the Act declaring income of Rs. 4,43,340.00 which was accepted in the assessment framed under section 153C read with section 143(3) of the Act vide