Penalty u/s 271(1)(c)
This query is : Resolved
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.
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