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2012 (5) TMI 109 - ITAT DELHILevy of penalty u/s 271(1)(c) – Claim of deduction u/s 10B and 80HHE – Held that:- Not a case where the assessee has not disclosed full details at the time of filing of returns or during the course of assessment proceedings - assessee claimed that export sales of Rs.549.76 lacs were not realized before the end of six months from the end of the FY 2003-04 and that company was yet to file an application for extension of time - mere erroneous claim in the absence of any concealment or furnishing of inaccurate particulars, is no ground for levying penalty when there is nothing on record to show that the explanation offered by the assessee adverse – no levy of penalty – in favour of assessee.
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