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Section 271(1)(C) Penalty Not Imposed When DM Circle Rate Substitutes Sale Consideration u/s 50C Deeming Provisions.

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....Levy of penalty u/s 271(1) - where the actual sale consideration is replaced by the sale consideration determined as per DM circle rate under the deeming provisions of section 50C, the same cannot be basis for levy of penalty under section 271(1)(C) of the Act. - AT....

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Section 271(1)(C) Penalty Not Imposed When DM Circle Rate Substitutes Sale Consideration u/s 50C Deeming Provisions.