https://www.taxtmi.com/circulars?id=54173 Where tax computed under ordinary provisions is less than tax payable under the deeming provisions for Minimum Alternate Tax, penalty for concealment under section 271(1)(c) cannot be imposed with reference to additions or disallowances made under normal provisions for periods prior to the prospective operative date of the substituted Explanation; if MAT income is adjusted for those periods, penalty applicability depends on the nature of the adjustment, the position extends to analogous MAT provisions, and authorities are directed not to institute or to withdraw appeals on this ground. en-us Thu, 31 Dec 2015 00:00:00 +0530 Fri, 01 Jan 2016 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54173 Where tax computed under ordinary provisions is less than tax payable under the deeming provisions for Minimum Alternate Tax, penalty for concealment under section 271(1)(c) cannot be imposed with reference to additions or disallowances made under normal provisions for periods prior to the prospective operative date of the substituted Explanation; if MAT income is adjusted for those periods, penalty applicability depends on the nature of the adjustment, the position extends to analogous MAT provisions, and authorities are directed not to institute or to withdraw appeals on this ground. Circulars Income Tax Thu, 31 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54173