Penalty Imposed u/s 271(1)(c) for Lack of Vouchers Deleted After Business Closure in India.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Penalty levied u/s 271(1)(c) - the disallowances of expenses have been made by the revenue merely on the reason that the assessee could not produce the relevant vouchers & bills owing to closure of the business in India - Penalty deleted.....