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Topics - B Natarajan

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#1
Discussion / indexation for SBI Infrastrucre Bonds
July 27, 2011, 11:53:22 AM
My client has invested Rs. 25000/- in SBI Infrastructure Fund Series - 1 in the FY 2007-08 and he has redeemed the same in FY 2010-11after 3 years. Please let me know if the benefit of indexation is available for these bonds.
Thanks
B Natarajan
#2
Discussion / Penalty u/s. 271(1)(c) on disallowance u/s. 40A(3)
July 05, 2011, 07:42:35 PM
One of my clients made payments in cash exceeding the limits to co-operative sugar mills. The stock has been duly brought to account and sale and profit have been properly accounted. The Assessing Officer on reassessment proceedings has made disallowance u/s. 40A(3) and also levied penalty u/s. 271(1)(c). Is the levy of penalty u/s. 271(1)(c) valid? If there are any case law please provide the same.
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