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2004 (10) TMI 32 - HC - Income TaxLevy of penalty under section 271(l)(c) - Explanation 1 to section 271(1)(c) - absence of any material disclosing any receipt on account of delivery charges (labour room charges) in addition to what is recorded in the accounts - that it cannot be said that the income was concealed. The explanation given by the assessee was that so far as the delivery charges are concerned, in many cases, charges were not realised. But the only drawback was that the assessee was not able to prove that delivery charges were not received in all such cases. It is also found that in many cases, delivery charges were not recovered. - it is not a case where there is concealment or willful evasion. Hence, we are of the view that the Appellate Tribunal was not correct in treating the income as concealed – penalty set aside
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