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2015 (12) TMI 186 - ITAT DELHIPenalty under Section 271(1)(c) - CIT(A) deleted the levy - Held that:- A perusal of the penalty order shows that the penalty has been levied for alleged offence of concealing the particular of income but we find that the Assessing Officer had not given a finding in the penalty order as to how and in what manner the respondent assessee company had furnished inaccurate particulars of income resulting in addition to the returned income except making the bald charge against the respondent assessee company that it had furnished inaccurate particulars of income. In the absence of such finding, the penalty order is liable to be quashed. Mere additions to the returned income would not per se tantamount to furnishing of inaccurate particulars of income so as to attract the penalty under Section 271(1)(c) of the Act. - Decided in favour of assessee
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