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Penalty by resorting to the explanation to Section 271(1)(c).
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.... Dated: August 22, 1972 Section(s) Referred: 271(1)(c) Statute: Income - Tax Act, 1961 Reference is invited to Board's instruction No. 325 (F.267/607/71-ITJ) dated 22nd September, 1971 on t....
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....igh Court to test the applicability of the explanation. 3. In some of the cases, however, where the only ground on which the penalty can be sustained is the explanation, the explanation is neither ....