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2015 (12) TMI 1181 - CALCUTTA HIGH COURTPenalty u/s 271(1)(c) - Held that:- The issue stands covered by the judgments delivered in Commissioner of Income-Tax, Central-I, Kolkata vs. Amardeep Singh Dhanjal [2013 (2) TMI 291 - CALCUTTA HIGH COURT] and Commissioner of Income Tax, Central-III, Kolkata vs. Brijendra Gupta [2015 (7) TMI 451 - CALCUTTA HIGH COURT] the manner in which the income was derived has also been disclosed and the assessee has thereafter paid the tax and the applicable interest, thus all the requirements of the clause were met by the assessee and, therefore, the correct view of the matter is taken in allowing the immunity and upholding the view of the CIT appeals and setting aside the order of penalty passed by AO - in favour of assessee.
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