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2010 (8) TMI 75 - DELHI HIGH COURTPenalty - Concealment of Income - Whether the Tribunal was correct in law in deleting the penalty imposed by the Income-tax Officer under section 271(1)(c) of the Income-tax Act, 1961 ? Held that - the reason given by the Tribunal for quashing the penalty proceedings were irrelevant, not germane to the issue and the Tribunal had lost sight of aspects which had been conclusively established in the quantum proceedings. The object behind the enactment of section 271(1)(c) read with Explanations indicates that the said section has been enacted to provide for a remedy for loss of revenue. The penalty under that provisions is a civil liability. Wilful concealment is not an essential ingredient for attracting civil liability as is the case in the matter of prosecution under section 276C of the Income-tax Act. Thus, answer the question as formulated in the negative that is against the assessee and in favour of the Revenue.
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