Penalty:Supreme Court Sets 4 Major Principles !

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Penalty u/s 271(1)© of the Income Tax Act is initiated  by assessing officer , usually when he makes addition while computing total income in an assessment proceeding u/s 143(3) .The proceeding u/s 271(1)© is challenged more than the assessment by A.O because while the additions are done on technical grounds , many time , the…