No penalty under Section 271(1)(c) for bonafide claims or deleted additions.
No penalty under Section 271(1)(c) for bonafide claims or deleted additions. Issue Whether penalty under Section 271(1)(c) can be levied when disallowances (such as for ERS provisions, cash discount reserves, or bonus payments) were based on full disclosures made under a bonafide belief, or when quantum additions were deleted on merits/arithmetical grounds, or involved debatable… Read More »