https://www.taxtmi.com/highlights?id=52963 Penalty levied u/s 271(1)(c) - Credit capital account with the narration ‘Gift received’ - There is no merit in the levy of penalty under section 271(1)(c) of the Act where the initiation of penalty proceedings is without recording of satisfaction en-us Tue, 14 Apr 2020 15:14:46 +0530 Tue, 14 Apr 2020 15:14:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=52963 Penalty levied u/s 271(1)(c) - Credit capital account with the narration ‘Gift received’ - There is no merit in the levy of penalty under section 271(1)(c) of the Act where the initiation of penalty proceedings is without recording of satisfaction Highlights Income Tax Tue, 14 Apr 2020 15:14:46 +0530 https://www.taxtmi.com/highlights?id=52963