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Friday, January 10, 2014

The Professional Hub: Penalty u/s 271(1)(c) cannot be levied on disallow...

The Professional Hub: Penalty u/s 271(1)(c) cannot be levied on disallow...: AO levied penalty u/s 271(1)(c) on disallowance made u/s 40(a)(ia). Hon’ble ITAT observed that the assessee had debited expenses in respec...