Home / 
Doubting Loan Capacity Doesn't Justify Penalty u/s 271(1)(c) of Income Tax Act: Belief Alone Isn't Enough.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Penalty u/s 271(1)(c) - Merely because an addition is made by disbelieving her capacity to lend the loan.Such a fact, ipso facto, does not lead to the levy of penalty.....
TaxTMI