Penalty u/s 271(1)(c) Reviewed: Must Reflect Tax Evasion from Concealed Income, Not Total Tax Chargeable.

Penalty u/s 271(1)(c) Reviewed: Must Reflect Tax Evasion from Concealed Income, Not Total Tax Chargeable. https://www.taxtmi.com/highlights?id=60548 Levy of penalty u/s 271 (1) (c) on "estimated income” by the assessing authority - The discussion is concluded by holding that the penalty is determined on the amount of tax sought to be evaded, by the concealment of income etc.., but not on the total tax chargeable on the assessee. - HC en-us Wed, 17 Nov 2021 13:15:25 +0530 Wed, 17 Nov 2021 13:15:25 +0530 TaxTMI RSS Generator Penalty u/s 271(1)(c) Reviewed: Must Reflect Tax Evasion from Concealed Income, Not Total Tax Chargeable. https://www.taxtmi.com/highlights?id=60548 Levy of penalty u/s 271 (1) (c) on "estimated income” by the assessing authority - The discussion is concluded by holding that the penalty is determined on the amount of tax sought to be evaded, by the concealment of income etc.., but not on the total tax chargeable on the assessee. - HC Highlights Income Tax Wed, 17 Nov 2021 13:15:25 +0530 https://www.taxtmi.com/highlights?id=60548