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        Case ID :
        Income Tax

        Penalty under Section 271(1)(c) - Undervaluation of closing...

        Penalty Quashed: No Evidence of Inaccurate Income Details u/s 271(1)(c) for Closing Stock Undervaluation.

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        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

        Provisions expressly mentioned in the judgment/order text.

        Penalty under Section 271(1)(c) - Undervaluation of closing stock - The case of furnishing of any inaccurate particulars of income is not apparent from the record itself neither the books of account has been rejected, nor any case of creating false evidence has been made by the Revenue. - we quash the impugned order of penalty - AT

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