https://www.taxtmi.com/highlights?id=29960 Penalty u/s.271(1)(c) - declaration of income recorded u/s.132(4) - It is the settled position of law that penalty proceedings and assessment proceedings are separate and distinct. The assessee can advance new arguments during penalty proceedings - AT en-us Mon, 27 Jun 2016 07:22:29 +0530 Mon, 27 Jun 2016 07:22:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=29960 Penalty u/s.271(1)(c) - declaration of income recorded u/s.132(4) - It is the settled position of law that penalty proceedings and assessment proceedings are separate and distinct. The assessee can advance new arguments during penalty proceedings - AT Highlights Income Tax Mon, 27 Jun 2016 07:22:29 +0530 https://www.taxtmi.com/highlights?id=29960