https://www.taxtmi.com/highlights?id=20674 Cancellation of penalty u/s 271(1)(c) - In the Directors’ Report, a passing reference only was made to indicate that its consultancy business was sold by the assessee company for ₹ 31,75,000 - There was however, no mention made about this transaction in the notes forming part of accounts - penalty confirmed - AT en-us Sat, 15 Nov 2014 17:49:19 +0530 Sat, 15 Nov 2014 17:49:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=20674 Cancellation of penalty u/s 271(1)(c) - In the Directors’ Report, a passing reference only was made to indicate that its consultancy business was sold by the assessee company for ₹ 31,75,000 - There was however, no mention made about this transaction in the notes forming part of accounts - penalty confirmed - AT Highlights Income Tax Sat, 15 Nov 2014 17:49:19 +0530 https://www.taxtmi.com/highlights?id=20674