https://www.taxtmi.com/highlights?id=54499 Penalty u/s 271(1)(c) - disallowance u/s 40(a)(ia) - The only reason for which the expenditure was disallowed is due to non–deduction of tax at source. In other words, it is statutory disallowance. That being the case, the assessee cannot be accused of submitting inaccurate particulars of income or concealing its income - No penalty - AT en-us Thu, 27 Aug 2020 11:21:49 +0530 Thu, 27 Aug 2020 11:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54499 Penalty u/s 271(1)(c) - disallowance u/s 40(a)(ia) - The only reason for which the expenditure was disallowed is due to non–deduction of tax at source. In other words, it is statutory disallowance. That being the case, the assessee cannot be accused of submitting inaccurate particulars of income or concealing its income - No penalty - AT Highlights Income Tax Thu, 27 Aug 2020 11:21:49 +0530 https://www.taxtmi.com/highlights?id=54499