{"id":41136,"date":"2024-04-02T19:19:11","date_gmt":"2024-04-02T13:49:11","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=41136"},"modified":"2024-04-07T18:55:53","modified_gmt":"2024-04-07T13:25:53","slug":"penalty-u-sec-2711c-of-the-act","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/penalty-u-sec-2711c-of-the-act\/","title":{"rendered":"Penalty U\/SEc. 271(1)(c) of the Act"},"content":{"rendered":"<p>Assessee is private limited co and during the course of assessment proceedings AO made the addition U\/SEc.14A, Write off advances to 100% subsidiary co established in China and non submission of receipt of donation. CIT A confirm all the additions . ITAT has reduced the disallowance U\/sec. 14A to the extent of exempt income. and confirm the addition made by the AO . on the ground of writeoff of advances to subsidiary co on the ground that the assessee failed to substantiate the claim made by the co. AO has levied the Penalty U\/SEc. 271(1) (c) for furnishing of inaccurate particulars of income.<\/p>\n<p>whether it is justified in law<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[22],"qa_category":[23],"qa_tag":[626,149],"class_list":["post-41136","qa","type-qa","status-publish","hentry","qa_expert-advocate-neelam-jadhav","qa_category-income-tax","qa_tag-concealment","qa_tag-penalty"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/41136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=41136"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=41136"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=41136"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=41136"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=41136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}