https://www.taxtmi.com/highlights?id=66865 Penalty u/s.271(1)(c) - Nature of interest income - capital receipt or revenue receipt - This being a highly debatable issue and once there is a debate as assessee’s present case, Hon’ble Madras High Court has admitted the substantial question of law against the order of Tribunal in quantum, we are of the view that assessee is not liable for penalty u/s.271(1)(c) - AT en-us Thu, 01 Dec 2022 07:43:57 +0530 Thu, 01 Dec 2022 07:43:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=66865 Penalty u/s.271(1)(c) - Nature of interest income - capital receipt or revenue receipt - This being a highly debatable issue and once there is a debate as assessee’s present case, Hon’ble Madras High Court has admitted the substantial question of law against the order of Tribunal in quantum, we are of the view that assessee is not liable for penalty u/s.271(1)(c) - AT Highlights Income Tax Thu, 01 Dec 2022 07:43:57 +0530 https://www.taxtmi.com/highlights?id=66865