Section 271(1)(c) Penalty: No Penalty for Assessee Since No Loss Declared in Tax Return.

Section 271(1)(c) Penalty: No Penalty for Assessee Since No Loss Declared in Tax Return. https://www.taxtmi.com/highlights?id=23438 Penalty u/s 271(1)(c) - addition so made does not affect either reducing the loss declared in the return or converting the loss declared in the return into income. The assessee has not declared loss in the return - no penalty - AT en-us Mon, 22 Jun 2015 08:30:46 +0530 Mon, 22 Jun 2015 08:30:46 +0530 TaxTMI RSS Generator Section 271(1)(c) Penalty: No Penalty for Assessee Since No Loss Declared in Tax Return. https://www.taxtmi.com/highlights?id=23438 Penalty u/s 271(1)(c) - addition so made does not affect either reducing the loss declared in the return or converting the loss declared in the return into income. The assessee has not declared loss in the return - no penalty - AT Highlights Income Tax Mon, 22 Jun 2015 08:30:46 +0530 https://www.taxtmi.com/highlights?id=23438