2014 (3) TMI 1007 - ITAT CHANDIGARH

Penalty u/s 271 (1) (c) - Held that:- In case before us also the surrender was not made voluntarily and the documents were found in this Assessment year still the assessee had not bothered to file any return. Even in Assessment year 2004- 05 and 2005-06 only part of income was declared therefore the assessee has clearly concealed the particular of his income which would attract penal consequences.

In view of the above discussion, we are of the opinion that this is a fit case for levy of penalty and accordingly we confirm the action of the Ld. CIT(A) and confirm the levy of penalty. - Decided against assessee.