Interest Expenditure Disallowance: Findings May Justify Under Sec 271(1)(c), But Insufficient for Penalty Imposition Alone.

Interest Expenditure Disallowance: Findings May Justify Under Sec 271(1)(c), But Insufficient for Penalty Imposition Alone. https://www.taxtmi.com/highlights?id=44546 Penalty u/s 271(1)(c) - disallowance of interest expenditure - The findings of the AO may be sufficient to make disallowance in quantum on the theory of preponderance of probabilities but it is not sufficient to fasten and saddle the assessee with penalty provisions as are enshrined u/s. 271(1)(c) en-us Sat, 16 Feb 2019 11:39:21 +0530 Sat, 16 Feb 2019 11:39:21 +0530 TaxTMI RSS Generator Interest Expenditure Disallowance: Findings May Justify Under Sec 271(1)(c), But Insufficient for Penalty Imposition Alone. https://www.taxtmi.com/highlights?id=44546 Penalty u/s 271(1)(c) - disallowance of interest expenditure - The findings of the AO may be sufficient to make disallowance in quantum on the theory of preponderance of probabilities but it is not sufficient to fasten and saddle the assessee with penalty provisions as are enshrined u/s. 271(1)(c) Highlights Income Tax Sat, 16 Feb 2019 11:39:21 +0530 https://www.taxtmi.com/highlights?id=44546