Penalty u/s 271(1)(c) Not Justified Without Evidence of Incorrect Tax Return Details.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Levy of penalty - it is nowhere recorded that the details submitted by the assessee in its return are found to be incorrect or erroneous or false and in these circumstances, penalty u/s 271(1)(c) of the Act is not sustainable - AT....