https://www.taxtmi.com/highlights?id=31237 The assessee, as such exclusively not claimed the interest expenditure against the salary income, rather, his stand is to be construed that he claimed interest expenditure on the ground that such interest bearing funds were used for making investment in the company. In such situation, he cannot be visited with penalty u/s 271(1)(c) - AT en-us Fri, 16 Sep 2016 11:37:02 +0530 Fri, 16 Sep 2016 11:37:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=31237 The assessee, as such exclusively not claimed the interest expenditure against the salary income, rather, his stand is to be construed that he claimed interest expenditure on the ground that such interest bearing funds were used for making investment in the company. In such situation, he cannot be visited with penalty u/s 271(1)(c) - AT Highlights Income Tax Fri, 16 Sep 2016 11:37:02 +0530 https://www.taxtmi.com/highlights?id=31237