HC lay down principles for levying penalty u/s 271(1)(c)
Added In Income Tax Case Laws
In the case of CIT Vs. Manjunatha Cotton and Ginning Factory,
Karnataka High Court has laid down the following Principles for levy of
penalty Under section 271(1)(c) of the Income Tax Act, 1961 :- (a)
Penalty under Section 271(l)(c) is a civil liability. (b) Mens rea is
not an essential element for imposing penalty for [...]
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