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2002 (7) TMI 65 - HC - Income TaxPenalty - Concealment Of Income - Having perused the order of the Commissioner of Income-tax (Appeals) and the Tribunal, we find that on both the main issues, namely, (1) whether rental income was to be assessed as business income, and (2) whether profit on sale of flat was to be assessed as income from business or as capital gains, the authorities below have accepted the explanation of the assessee as bona fide. The Commissioner of Income-tax (Appeals) has in fact recorded that the assessee has not concealed or furnished inaccurate particulars of its income. In our view, these are pure findings of fact, beyond the limited and restricted scope of appeal under section 260A of the Act.
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