Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (1) TMI 656 - GUJARAT HIGH COURTLevy of penalty u/s 271(1)(c) - It is apparent that neither the Assessing Officer nor the Commissioner (Appeals) have stated as to what are the inaccurate particulars that have been furnished by the assessee or as to what is the nature of the concealment made by the assessee - The Tribunal upon appreciation of the evidence on record has found as a matter of fact that all primary and material facts were disclosed by the assessee and was of the view that the assessee had made a bonafide claim and that holding a different legal opinion cannot lead to penalty in respect of the items claimed - In the absence of any findings as regards furnishing inaccurate particulars or concealment of material particulars, the Tribunal was justified in setting aside the penalty.
|