Penalty u/s 271(1)(c)
This query is : Resolved
KETAN MEHTA
(Querist)
27 January 2011
Assessing officer has passed order that we have capitalised interest on FDR for the period prior to function of companies business. i.e. disallowed the income of FDR to reduce from pre-operative expenses. Also issued notice u/s 271-1-c. What explanation can be give for the same. can any body advice?.
27 January 2011
It is a matter of mens-rea. you have to explain them the offence was done without the knowledge.
Guest
Guest
(Expert)
27 January 2011
Explanation depends and varies case to case? There can not be thumb rule.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- GSTR9 Annual Return
- Employee secondment
- IMS (import of goods) ITC related
- Applicability of tax on invoice
- LLP audit and disclosure
- Capital Gains Tax on Inherited Mutual Fund
- Form 144 TDS Return Validation Error – Mandatory Fields
- Gift to nri relatives resides in usa
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
