HC lay down principles for levying penalty u/s 271(1)(c)

In the case of  CIT Vs. Manjunatha Cotton and Ginning Factory, Karnataka High Court has laid down the following Principles for levy of penalty Under section 271(1)(c) of the Income Tax Act, 1961 :-

(a) Penalty under Section 271(l)(c) is a civil liability.

(b) Mens

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