https://www.taxtmi.com/highlights?id=58534 Penalty u/s 271(1)(c) - Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished inaccurate particulars. Action of making addition on ad-hoc basis does not result into imposition of penalty u/s. 271(1)(c) of the Act and hence cannot be termed as either concealment or furnishing of inaccurate particulars of income - AT en-us Sat, 26 Jun 2021 07:51:18 +0530 Sat, 26 Jun 2021 07:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58534 Penalty u/s 271(1)(c) - Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished inaccurate particulars. Action of making addition on ad-hoc basis does not result into imposition of penalty u/s. 271(1)(c) of the Act and hence cannot be termed as either concealment or furnishing of inaccurate particulars of income - AT Highlights Income Tax Sat, 26 Jun 2021 07:51:18 +0530 https://www.taxtmi.com/highlights?id=58534