Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2017 (7) TMI 105 - ITAT MUMBAI
Penalty levied u/s 271(1)(c) - exemption claimed u/s 54 - Held that:- AO failed to crystallize the charge on which the penalty was proposed u/s 271(1)(c) of the Act, which has to be met out by the assessee. Considering the decision of various Superior Courts, Hon'ble Bombay High Court in the case of Shri Samson Perinchery [2017 (1) TMI 1292 - BOMBAY HIGH COURT ], we delete the penalty levied by AO. - Decided in favour of assessee.