Fraud-based GST assessment cannot stand without allegations of fraud, wilful misstatement or suppression; proceedings must follow normal classificatio...
Penalty u/s 271(1)(c) - Interest as obtained through interest bearing fund and used for non-business purposes - Assessee has voluntarily offered such interest expenditure during the assessment. Thus, the assessee is not to be penalized on such addition as he himself has offered before assessment proceedings. - no penalty - AT
Penalty u/s 271(1)(c) - Interest as obtained through interest bearing fund and used for non-business purposes - Assessee has voluntarily offered such interest expenditure during the assessment. Thus, the assessee is not to be penalized on such addition as he himself has offered before assessment proceedings. - no penalty - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
