Penalty u/s 271(1)(c) Not Imposed Due to Lack of Tax Benefit Incentive from Disallowed Expense Claims.

Penalty u/s 271(1)(c) Not Imposed Due to Lack of Tax Benefit Incentive from Disallowed Expense Claims. https://www.taxtmi.com/highlights?id=18626 Penalty u/s 271(1)(c) - Disallowance of claim of various expenses – The assessee has huge accumulated losses and depreciation which further strengthen the view that there was no incentive for assessee to make such claims for the benefit of tax - no penalty - AT en-us Wed, 21 May 2014 13:48:21 +0530 Wed, 21 May 2014 13:48:21 +0530 TaxTMI RSS Generator Penalty u/s 271(1)(c) Not Imposed Due to Lack of Tax Benefit Incentive from Disallowed Expense Claims. https://www.taxtmi.com/highlights?id=18626 Penalty u/s 271(1)(c) - Disallowance of claim of various expenses – The assessee has huge accumulated losses and depreciation which further strengthen the view that there was no incentive for assessee to make such claims for the benefit of tax - no penalty - AT Highlights Income Tax Wed, 21 May 2014 13:48:21 +0530 https://www.taxtmi.com/highlights?id=18626