Levy of Penalty u/s 271 1 c of Income Tax act, Rs. 7 crores is upheld by MDS High Court in the case of Gangotri Textiles P Ltd. By Hon’ble Justice TSSJ and VBSJ.read pdf full order

[8/27, 18:02] Sekarreporter 1: https://twitter.com/sekarreporter1/status/1298961501244420096?s=08
[8/27, 18:02] Sekarreporter 1: [8/27, 17:11] Usharani Tax: Levy of Penalty u/s 271 1 c of Income Tax act, Rs. 7 crores is upheld by MDS High Court in the case of Gangotri Textiles P Ltd. By Hon’ble Justice TSSJ and
VBSJ.
Assessee claimed that returned income and the assessed income was loss and on the defective notice
penalty was not leviable.
Hon’ble High Coury held that the penalty is leviable even though the returned income and the assessed income is also loss and there is no defect in the notice and there by upheld the levy of penalty of Rs. 7 crores.
[8/27, 17:13] Usharani Tax: Sir, I am K.G. Usha Rani..jr counsel for Income tax department associate to Mr. T. R. Senthil Kumar

[pdf-embedder url=”https://sekarreporter.com/wp-content/uploads/2020/08/tssj-vbsj-tax-order-Sekarreporter.pdf” title=”tssj vbsj tax order Sekarreporter”]