There are many judgments of different courts which have adjudicated the issue of levy of penalty under section 271(1) (c) of the Income Tax Act. Provisions of section271 (1) (c) of the Act: Section 271(1) (c) of the Income Tax Act deals with levy of penalty in the following cases: (i)                  Concealment of particulars of … Continue reading Penalty under section 271(1) (c) of the Income Tax Act