Section 271(1)(c) penalty cannot be levied on additions based on estimate

Vishnu Tambi Vs DCIT (ITAT Jaipur)

Under Section 271(1)(c) of the Act, the authority has been given discretion to levy the penalty in case there is a concealment of particulars of income and also with regard to quantum of penalty. However, it is a basic need of the provisions of law that definite finding is required to be recorded by the Revenue Offic

Please become a Premium member. If you are already a Premium member, login here to access the full content.