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2003 (11) TMI 11 - HC - Income TaxPenalty - It cannot be said that there has been concealment of particulars or that the assessee had furnished inaccurate particulars as the particulars had in fact been given, the figures not being disputed, but under a different head - fact that the Revenue did not agree with the assessee's view that the discount to be given by it to its customers which was to take effect in future years could be shown as an amount due to sundry debtors, would not by itself justify a finding that the assessee had concealed the income or furnished inaccurate particulars - we do not find sufficient justification for the imposition of the penalty
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