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2003 (4) TMI 59 - ALLAHABAD HIGH COURTPenalty - concealment of income - "(i) Whether, , the Tribunal's finding regarding revised return dated October 15, 1976, having been filed before detection of discrepancy by the Income-tax Officer was perverse in view of such discrepancy having been pointed out by the Income-tax Officer on an earlier date, namely, September 10, 1976? - (ii) Whether, , the Tribunal was right in law in holding that the question of the provisions of the Explanation below section 271(1)(c) being attracted in the case had to be decided not with reference to the income declared as per the original return, but with reference to the income declared as per the revised return? - (iii) Whether, , the Tribunal was legally correct in cancelling the penalty imposed under section 271(1)(c) of the Act?" - All the three questions are decided in favour of the Revenue.
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