Taxpayer Avoids Penalty u/s 271(1)(c) for Unreported Interest Income Due to Honest Misinterpretation of Tax Rules.

Taxpayer Avoids Penalty u/s 271(1)(c) for Unreported Interest Income Due to Honest Misinterpretation of Tax Rules. https://www.taxtmi.com/highlights?id=25104 Penalty u/s.271(1)(c) - assessee has not offered interest income for tax due to wrong interpretations of the provisions of the Act and not on account of deliberate concealment of income or furnishing inaccurate particulars of such income - No penalty - AT en-us Mon, 05 Oct 2015 06:17:19 +0530 Mon, 05 Oct 2015 06:17:19 +0530 TaxTMI RSS Generator Taxpayer Avoids Penalty u/s 271(1)(c) for Unreported Interest Income Due to Honest Misinterpretation of Tax Rules. https://www.taxtmi.com/highlights?id=25104 Penalty u/s.271(1)(c) - assessee has not offered interest income for tax due to wrong interpretations of the provisions of the Act and not on account of deliberate concealment of income or furnishing inaccurate particulars of such income - No penalty - AT Highlights Income Tax Mon, 05 Oct 2015 06:17:19 +0530 https://www.taxtmi.com/highlights?id=25104