https://www.taxtmi.com/highlights?id=34614 Penalty u/s 271(1)(c) - According to the assessee she was not having income exhibiting taxable limit in the past, but she has made small savings. When she filed the return for this year, she computed it as an opening capital balance - the explanation of assessee does not appear to be false - No penalty - AT en-us Tue, 02 May 2017 09:31:34 +0530 Tue, 02 May 2017 09:31:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=34614 Penalty u/s 271(1)(c) - According to the assessee she was not having income exhibiting taxable limit in the past, but she has made small savings. When she filed the return for this year, she computed it as an opening capital balance - the explanation of assessee does not appear to be false - No penalty - AT Highlights Income Tax Tue, 02 May 2017 09:31:34 +0530 https://www.taxtmi.com/highlights?id=34614