Section 271(1)(c): Penalty Imposed Only on True Income Owner, Not Assessed Assessee.

Section 271(1)(c): Penalty Imposed Only on True Income Owner, Not Assessed Assessee. https://www.taxtmi.com/highlights?id=5782 Penalty levied u/s 271(1)(c) – The penalty, if any, can be levied in the hands of the person to whom the income actually belongs and not to the assessee in whose hands the department assessed the income on protective basis. - AT en-us Sat, 13 Oct 2012 13:09:38 +0530 Sat, 13 Oct 2012 13:09:38 +0530 TaxTMI RSS Generator Section 271(1)(c): Penalty Imposed Only on True Income Owner, Not Assessed Assessee. https://www.taxtmi.com/highlights?id=5782 Penalty levied u/s 271(1)(c) – The penalty, if any, can be levied in the hands of the person to whom the income actually belongs and not to the assessee in whose hands the department assessed the income on protective basis. - AT Highlights Income Tax Sat, 13 Oct 2012 13:09:38 +0530 https://www.taxtmi.com/highlights?id=5782