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1999 (10) TMI 733 - ITAT MUMBAI
Extract:
.......hoice about taxability of income under particular head carry an element of falsehood or intention of deliberately furnishing inaccurate particulars. 27. In view of the above, we are of the view that the penalty imposed on the assessee is not justified. Consequently we delete the penalty under s. 272(1)(c). 28. The appeal of the assessee is allowed.