Del HC confirms 271(1)(c) on estimated income
The Hon’ble Delhi High Court in decision dated 15.04.2014 in the case of kalindi Rail Nirman Engg Ltd. has reversed the decisions of CIT(A) as well as ITAT and has confirmed the levy of penalty u/s 271(1)(c) by holding that said penalty can be levied even in cases where income is estimated by AO. The Hon’ble HC has strongly relied upon judgement of Hon’ble SC in the case of Mak Data P. Ltd. 358 ITR 593 (2013).
To read complete text of judgement, click here Del HC confirms 271(1)(c) on estimated income