Section 271(1) (c) of the Income Tax Act, 1961 deals with levy of penalty due to concealment of income by an assessee. Penalty under section 271(1) (c) of the Income Tax Act can be imposed only if the following conditions are fulfilled: 1. The assessee has concealed the particulars of his income; or 2. The … Continue reading All about Penalty under section 271(1) (c)