Supreme Court Rules No Penalty for Assessee u/s 271(1)(c) for Cash Payments u/s 40A(3.

Supreme Court Rules No Penalty for Assessee u/s 271(1)(c) for Cash Payments u/s 40A(3. https://www.taxtmi.com/highlights?id=5921 Penalty u/s 271(1)(c) - cash payment u/s 40A(3) - The offer made by the assessee was on the basis that it could not give the details of the parties, and in order to buy peace, the AO was requested to tax the gross receipts on net profits basis. - no penalty - SC en-us Mon, 29 Oct 2012 10:17:20 +0530 Mon, 29 Oct 2012 10:17:20 +0530 TaxTMI RSS Generator Supreme Court Rules No Penalty for Assessee u/s 271(1)(c) for Cash Payments u/s 40A(3. https://www.taxtmi.com/highlights?id=5921 Penalty u/s 271(1)(c) - cash payment u/s 40A(3) - The offer made by the assessee was on the basis that it could not give the details of the parties, and in order to buy peace, the AO was requested to tax the gross receipts on net profits basis. - no penalty - SC Highlights Income Tax Mon, 29 Oct 2012 10:17:20 +0530 https://www.taxtmi.com/highlights?id=5921