The Madras High Court recently held that the penalty under section 271(1)(C) of the Income Tax Act can be levied if the department rejects the claim for deduction made by the assessee. The Court noted that when there were two interpretations which were possible with regard to the deduction, and the claim was rejected by […]
The post Penalty not leviable If Assessee’s Claim for Deduction gets Rejected: Madras HC [Read Judgment] appeared first on Taxscan | Simplifying Tax Laws.
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