Penalty u/s 271(1)(c) Not Imposed for Different Interest Calculation Methods on FDRs by Assessee and AO.

Penalty u/s 271(1)(c) Not Imposed for Different Interest Calculation Methods on FDRs by Assessee and AO. https://www.taxtmi.com/highlights?id=52863 Penalty u/s 271(1)( c) - Addition on account of interest on FDR - Merely because of method of calculating the interest income as adopted by the assessee company does not match with that adopted by the AO then in that eventuality no penalty can be levied. - AT en-us Thu, 09 Apr 2020 13:04:38 +0530 Thu, 09 Apr 2020 13:04:38 +0530 TaxTMI RSS Generator Penalty u/s 271(1)(c) Not Imposed for Different Interest Calculation Methods on FDRs by Assessee and AO. https://www.taxtmi.com/highlights?id=52863 Penalty u/s 271(1)( c) - Addition on account of interest on FDR - Merely because of method of calculating the interest income as adopted by the assessee company does not match with that adopted by the AO then in that eventuality no penalty can be levied. - AT Highlights Income Tax Thu, 09 Apr 2020 13:04:38 +0530 https://www.taxtmi.com/highlights?id=52863